6:15 PM
Nifty Tips
Gold and silver recouped from yesterday’s fall in the international market while base metals steadied after yesterday’s liquidation following China’s decision to hike interest rates on 25 points basis. Dollar took a dip from yesterday’s gains. Oil prices rose above $80 per barrel after falling nearly four per cent on China’s interest rate moves. EIA weekly inventory data scheduled to release today evening. Crude oil inventory is seen up while distillate and gasoline stocks might have probably declined. American Petroleum Institute reported a rise in crude oil stock and fall in distillate and gasoline stocks. Markets are still not completely out from the influence of China’s interest rate hike. China hiked interest rates for the first time in nearly three years. Markets will be now looking upon host of Chinese data to be released early morning tomorrow that include GDP, retail sales and industrial production and US jobs data and Euro zone PMI and consumer confidence data later the day.
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