Achiievers Equities Daily Commodity Report

Daily Commodity Report as on Thursday, September 04, 2014

Date : Thursday, September 04, 2014 URL : www.achiieversequitiesltd.com Page No - 1

Open High Low Close % Cng OI

Gold 27569 27620 27368 27570 0.06 9994Silver 42352 42435 42061 42277 -0.13 10443

Alum. 127.6 127.75 125.05 125.2 -1.69 5967Copper 428.9 429.8 423.35 424.55 -0.96 9142Lead 135.65 135.7 133.15 133.4 -1.59 2120Nickel 1129 1154.6 1126.5 1153.5 2.41 7042Zinc 144.6 144.75 143.1 143.3 -0.80 6141

Crude 5671 5779 5657 5767 1.80 11303Nat. Gas 238 238.5 232.7 233.2 -2.18 9308

Chana 27569 27620 27368 27570 0.06 9994

Cardamom 912.7 923 912.7 921.5 0.77 1079Turmeric 6670 6742 6580 6666 0.57 6910

Jeera 11010 11060 10945 11035 0.23 3840

Wheat 1572 1588 1572 1582 0.25 2340

Soyabean 3240 3280 3179 3256 0.77 71660Ref. Oil 604.55 608.35 602.05 604.75 0.31 34485CPO 443.2 446.2 438.7 442.2 0.18 2428RMSeed 3545 3616 3541 3607 1.75 47180Menthol 677 679 668.8 670.2 -0.98 9417Cotton 17690 17850 17650 17830 1.02 1688

USDINR 60.92 61.02 60.67 60.78 -0.40 1692931EURINR 80.03 80.07 79.78 79.96 -0.11 43984GBPINR 100.56 100.56 99.93 100.02 -0.83 35953JPYINR 58.05 58.07 57.76 57.87 -0.55 7901

Chana gains due to short covering amid concerns over production of summer-sown pulses after prices dropped in last some sessions.

Turmeric gains as support seen on an improvement in demand and concerns over production due to scanty rainfall in key growing areas. Currency

Jeera prices ended with small gains on buying interest at low levels after prices dropped due to sluggish demand from overseas buyers.


Natural gas prices edged lower after weather forecasting models continued to call for milder temperatures to move across the U.S. this weekend.

Ref soyoil ended with gains due to good demand in spot markets due to festivals. Cereals

Mentha oil edged lower due to fall in demand in the spot market. Oil and Oilseeds & Others

Soyabean gained on lower acreage and on the concerns about the yield due to delayed rains.

Energy Copper prices ended with losses as ongoing concerns over the health of China’s economy dampened appetite for growth-linked assets.

Zinc dropped on profit booking a rising US dollar index kept investors cautious despite US July factory orders grew most significantly since 1992.Pulses

Nickel rose after a Philippines senator called for an ore export ban in the nickel-rich nation.Spices

Market Round upPrecious Metals

Gold prices recovered losses as lingering tensions over Ukraine and a weaker dollar prompted bargain hunting and short covering

Base MetalSilver prices ended with small losses as brighter prospects for the U.S. economy continues to weighed despite of the Ukraine crisis

Crude oil gains as the prospect of peace talks between Ukraine and Russia combined with strong U.S. economic data raised demand expectations.

Silver settled down -0.13% at 42277 while recovered from the day's low as prices rose on Wednesday, as lingering tensions over Ukraine and a weaker dollar prompted bargain hunting and short covering after bullion pricesearlier fell to a 2-1/2-month low. Prices rebounded after a spokesman for President Putin subsequently said he had not agreed to a ceasefire as Russia was not party to the conflict but added that the two leaders had"discussed how to end the conflict". Meanwhile, investors were looking ahead to the latest U.S. employment report, due for release on Friday, for further indications on the strength of the recovery in the labor market, a keyfactor in deciding the future path of monetary policy. Market players are also awaiting the European Central Bank's policy meeting on Thursday amid mounting expectations that the bank will announce quantitative easingmeasures as a way to shore up growth and stave off deflation. The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, hit a 13-month high of 83.07 earlier in theday, before trimming gains to last trade at 82.93. While Silver corrected with basemetals after the data released earlier in the week showed that factory growth in China slowed last month, indicating a recovery in the broadereconomy remains fragile and may need further government stimulus. Technically market is under fresh selling as market has witnessed gain in open interest by 4.85% to settled at 10443 while prices down -53 rupee, nowSilver is getting support at 42081 and below same could see a test of 41884 level, And resistance is now likely to be seen at 42455, a move above could see prices testing 42632.


CLOSE 42277 RES-1 42455 Investors were waiting for a ECB meeting later in the day to see whether it will deliver a fresh round of policy stimulus.

% CNG -0.13 RES-2 42632 BUY SILVER DEC @ 42160-42200 SL BELOW 42020 TGT 42340-42480-42560. MCX (BTST)

HIGH 42435 SUP-1 42081 Silver prices ended with small losses as brighter prospects for the U.S. economy continues to weighed despite of the Ukraine crisis

LOW 42061 P.P. 42258 Prices seen pressure by more encouraging economic news including rising new orders for U.S. factory goods and latest Beige Book report on business activities.

Gold settled up by 0.06% at 27570 rebounded to end slightly higher on Wednesday, due mainly to some bargain hunting after yesterday's sharp fall, even as investors tracked rising global equity markets and some positivefactory orders data from the US. Strong equity markets amid conflicting reports about a ceasefire agreement between Russia and Ukraine continued to limit the bullion's gains. Manufacturing activity in the U.S. grew at anaccelerated pace in August with orders for transportation equipment indicating a substantial increase, data from the ISM showed Tuesday. There was also some upbeat economic news out of China, with a report showing theChinese service sector activity to have grown at a faster rate in August. On Tuesday, gold futures ended sharply lower on some upbeat U.S. economic data, with a stronger dollar amid expectations of fresh monetary stimulusby the ECB contributing to the decline. In economic news from the U.S., a report from the Commerce Department showed factory orders to have surged up by 10.5 percent in July, after climbing by an upwardly revised 1.5percent in June. Economists had been expecting orders to jump by about 10.9% compared to the 1.1% increase originally reported for the previous month. While Holdings of SPDR Gold Trust, edged down to 793.20 tons onWednesday, from its previous close of 795.00 tons on Tuesday. Meanwhile trader are eyeing on Thursday's, the ECB will announce its monetary policy. Hopes about fresh stimulus from the ECB have risen after eurozoneretail sales declined by a more than expected 0.4 percent in July. Technically market is under short covering and getting support at 27418 and below same could see a test of 27267 level, And resistance is now likely to beseen at 27670, a move above could see prices testing 27771.

MCX Silver Dec 2014 TRADING IDEA

OPEN 42352 SUP-2 41884 Silver trading range for the day is 41884-42632.

CLOSE 27570 RES-1 27670 SPDR gold trust holdings dropped by -2.69 tonnes i.e. 0.34% to 790.51 tonnes from 793.20 tonnes.

% CNG 0.06 RES-2 27771 BUY GOLD OCT @ 27480 SL 27350 TGT 27580-27700.MCX

HIGH 27620 SUP-1 27418 Gold prices recovered losses as lingering tensions over Ukraine and a weaker dollar prompted bargain hunting and short covering

LOW 27368 P.P. 27519 Prices earlier seen under pressure following reports that Ukraine and Russia had reached a ceasefire agreement in eastern Ukraine.

MCX Gold Oct 2014 TRADING IDEA

OPEN 27569 SUP-2 27267 Gold trading range for the day is 27267-27771.

Copper settled down -0.96% at 424.55 edged lower on Wednesday, as ongoing concerns over the health of China’s economy dampened appetite for growth-linked assets. Data released earlier in the week showed that factorygrowth in China slowed last month, indicating a recovery in the broader economy remains fragile and may need further government stimulus. China’s official manufacturing index ticked down to 51.1 from 51.7 in July, whilethe HSBC manufacturing index slowed to 50.2 from 50.3 the previous month. China’s copper premium has declined sharply in response to falling Chinese bonded warehouse stocks as demand for trade financing hasweakened following investigations by Chinese authorities into the fraudulent use of commodities as loan collateral in inventory financing deals. China’s refined copper imports declined by 16% y/y in July, which may reflectweaker financing and/or end-user demand. This comes despite Chinese copper future prices, which are higher than LME prices, currently favouring Chinese copper imports. The falling premium in Europe and the US mayreflect growing copper surplus concerns, particularly as Freeport’s Grasberg copper mine in Indonesia recommences concentrate exports. China’s copper import data for July is in line with recent economic data, whichindicates slowing growth in investment, industrial production and manufacturing. It may indicate that if China’s underlying economy slows, the growing scrutiny on China’s copper financing trade may weaken China’s apparentcopper demand further and keep copper prices under pressure. Technically market is under fresh selling and getting support at 422 and below same could see a test of 419.4 level, And resistance is now likely to be seen at428.5, a move above could see prices testing 432.4.


CLOSE 424.6 RES-1 428.5 Data showed new orders for U.S. factory goods posted a record gain in July and auto sales last month accelerated to their highest level in 8-1/2 years

% CNG -0.96 RES-2 432.4 BUY COPPER NOV @ 424 SL 422 TGT 426.50-429.MCX

HIGH 429.8 SUP-1 422.0 Copper prices ended with losses as ongoing concerns over the health of China’s economy dampened appetite for growth-linked assets.

LOW 423.4 P.P. 425.9 Pressure also seen as investors downplayed signs of progress towards peace in eastern Ukraine while tin slid to a eight-month low on worries about oversupply.

Crudeoil settled up 1.80% at 5767 rebounding from a more than seven-month low yesterday, as prospects of a ceasefire in the ongoing crisis between Ukraine and Russia gained strength. The sharp rise comes ahead of theweekly crude oil reports from the U.S. EIA weekly inventory report. The report has been rescheduled for a day later due to the U.S. Labor Day holiday last Monday. In the ongoing conflict in eastern Ukraine, President PetroPoroshenko initially said Russian President agreed on a permanent ceasefire, but Kiev later retracted the statement. The retraction came after Moscow said President Putin had not agreed to a ceasefire as it was not directlyinvolved in the conflict. Meanwhile, media reports suggest Islamic militants may have stolen about a dozen commercial planes from Tripoli Airport last month to use them in terror attacks. On Wednesday, crude oil futuresended down below 5700 level, snapping a four-day winning streak, amid concerns over likely fall in demand on the back of a weak Chinese factory data outweighing worries about the situation in Ukraine and Libya. Ineconomic news from the U.S., a report from the Commerce Department showed factory orders to have surged up by 10.5 percent in July, after climbing by an upwardly revised 1.5 percent in June. On Thursday, the ECB willannounce its monetary policy. Hopes about fresh stimulus from the ECB have risen after eurozone retail sales declined by a more than expected 0.4 percent in July. Technically market is under short covering and gettingsupport at 5689 and below same could see a test of 5612 level, And resistance is now likely to be seen at 5811, a move above could see prices testing 5856.

MCX Copper Nov 2014 TRADING IDEA

OPEN 428.9 SUP-2 419.4 Copper trading range for the day is 419.4-432.4.

CLOSE 5767 RES-1 5811 Today crude oil inventories: Exp: -0.9M Prev: -2.1M. Actual is at 8.30PM

% CNG 1.80 RES-2 5856 BUY CRUDE OIL SEPT @ 5720 SL 5680 TGT 5760-5800.MCX

HIGH 5779 SUP-1 5689 Crude oil gains as the prospect of peace talks between Ukraine and Russia combined with strong U.S. economic data raised demand expectations.

LOW 5657 P.P. 5734 Libya's oil output has risen to 725,000 barrels a day, more than six times the level two months ago.

MCX Crudeoil Sep 2014 TRADING IDEA

OPEN 5671 SUP-2 5612 Crudeoil trading range for the day is 5612-5856.

Nickel settled up 2.41% at 1153.50 rose to their highest level in four weeks on supply concerns after a Philippines senator filed a bill that would require raw minerals to be processed before exports, boosting expectations thePhilippines would implement mining laws similar to Indonesia. Since Indonesia enacted its mineral ore export ban in January, the Philippines has stepped up its nickel ore exports to China, accounting for nearly all of China’snickel ore imports in July. Nickel ore is feedstock for China’s nickel pig iron sector. Investors were looking ahead to the latest U.S. employment report, due for release on Friday, for further indications on the strength of therecovery in the labor market, a key factor in deciding the future path of monetary policy. Expectations that the Federal Reserve is growing closer to raising interest rates have boosted the dollar against the euro and the yen,as the European and Japanese central banks look likely to stick to a looser monetary policy stance. The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, hit a 13-month high of 83.07 earlier in the day, before trimming gains to last trade at 82.93. A stronger U.S. dollar usually weighs on basemetals, as it dampens the metal's appeal as an alternative asset and makes dollar-pricedcommodities more expensive for holders of other currencies. Market players are also awaiting the ECB meeting amid mounting expectations that the central bank will announce quantitative easing measures as a way to shoreup growth and stave off deflation. Technically market is under fresh buying and getting support at 1135.2 and below same could see a test of 1116.8 level, And resistance is now likely to be seen at 1163.3, a move abovecould see prices testing 1173.


CLOSE 1153.5 RES-1 1163.3 U.S. nonfarm payrolls data due on Friday will be closely watched for further clues about the economy and the outlook for Fed’s monetary stimulus.

% CNG 2.41 RES-2 1173.0 BUY NICKEL SEPT @ 1137-1141 SL BELOW 1130 TGT 1149-1158. MCX (BTST)

HIGH 1154.6 SUP-1 1135.2 Nickel rose after a Philippines senator called for an ore export ban in the nickel-rich nation.

LOW 1126.5 P.P. 1144.9 The proposed halt is similar to a ban introduced by Indonesia from January that led to a sharp spike in nickel prices and cut other ore exports.

Zinc settled down -0.8% on profit booking after prices climbed to a four-week high earlier this week driven by momentum-based speculators and computer-driven funds while pressure seen yesterday as inventory levelsremain still high. Zinc has probably one of the biggest exposures to residential construction activity of any of the metals, and Chinese refined zinc production surging quite sharply since June. While investors are betting onshortages developing due to mine closures, inventories of zinc in LME-approved warehouses are giving the opposite signal, having surged by 13 percent over the last month to 739,400 tonnes. Meanwhile data released earlierin the week showed that factory growth in China slowed last month, indicating a recovery in the broader economy remains fragile and may need further government stimulus. China’s official manufacturing index ticked downto 51.1 from 51.7 in July, while the HSBC manufacturing index slowed to 50.2 from 50.3 the previous month. Investors were looking ahead to the latest U.S. employment report, due for release on Friday, for furtherindications on the strength of the recovery in the labor market, a key factor in deciding the future path of monetary policy. Expectations that the Federal Reserve is growing closer to raising interest rates have boosted thedollar against the euro and the yen, as the European and Japanese central banks look likely to stick to a looser monetary policy stance. Market players are also awaiting the ECB meeting on Thursday amid mountingexpectations that the central bank will announce quantitative easing measures as a way to shore up growth and stave off deflation. Technically market is under long liquidation and getting support at 142.7 and below samecould see a test of 142.1 level, And resistance is now likely to be seen at 144.3, a move above could see prices testing 145.3.

MCX Nickel Sep 2014 TRADING IDEA

OPEN 1129.0 SUP-2 1116.8 Nickel trading range for the day is 1116.8-1173.

CLOSE 143.3 RES-1 144.3 Zinc daily stocks at Shanghai exchange came down by 249 tonnes.

% CNG -0.80 RES-2 145.3 BUY ZINC SEPT ABV 143.50 SL 142.50 TGT 144.40-145.20.MCX

HIGH 144.8 SUP-1 142.7 Zinc dropped on profit booking a rising US dollar index kept investors cautious despite US July factory orders grew most significantly since 1992.

LOW 143.1 P.P. 143.7 Although Russia and Ukraine reached a cease-fire agreement and US factory orders were positive in July weighing on prices.

MCX Zinc Sep 2014 TRADING IDEA

OPEN 144.6 SUP-2 142.1 Zinc trading range for the day is 142.1-145.3.

Turmeric settled up 0.57% at 6666 as support seen on an improvement in demand and concerns over production due to scanty rainfall in key growing areas. Turmeric prices dropped marginally despite increase in sales. Ofthe 3,500 bags on offer, 60 per cent was sold. Only the medium variety turmeric arrived for sale. The price of turmeric is also low in Nizamabad and Warangal. However, many buyers prefer Erode turmeric for its quality.Traders are expecting fresh orders from North India in a week. There was no improvement in the futures market. Due to arrival of quality hybrid finger turmeric, buyers quoted a higher price and it was up by Rs. 450 aquintal and the root variety by Rs. 150 a quintal. Other local varieties also increased by Rs. 100-150 a quintal. Buyers purchased all 430 bags of hybrid turmeric. At the Erode Turmeric Merchants Association sales yard, fingerturmeric was sold at Rs. 4,119-6,209 a quintal, the root variety at Rs. 3,199-5,989. The traders said that this year turmeric production fell but the farmers are stocking more than 20 lakh bags, with an impression that theprice may go up to Rs. 10,000 a quintal. At Nizamabad market total arrivals are at 2000 quintals, up by 500 quintals from previous trading day. In Nizamabad, a major spot market in AP, the price ended at 6405.55 rupeesgained 33.05 rupees. Technically market is under fresh buying as market has witnessed gain in open interest by 12.18% to settled at 6910 while prices up 38 rupee, now Turmeric is getting support at 6582 and below samecould see a test of 6500 level, And resistance is now likely to be seen at 6744, a move above could see prices testing 6824.


CLOSE 6666 RES-1 6744 NCDEX accredited warehouses turmeric stocks gained by 40 tonnes to 1489 tonnes.

% CNG 0.57 RES-2 6824 BUY TURMERIC OCT @ 6600-6640 SL BELOW 6500 TGT 6720-6800. NCDEX (BTST)

HIGH 6742 SUP-1 6582 Turmeric gains as support seen on an improvement in demand and concerns over production due to scanty rainfall in key growing areas.

LOW 6580 P.P. 6662 Sowing of Turmeric in AP for the 2014-15 season is reported at 0.075 lakh ha, as against 0.08 lakh ha last year.

Chana settled up 0.17% at 2882 due to short covering amid concerns over production of summer-sown pulses after prices dropped in last some sessions due to improved kharif pulses sowing. Sowing of kharif pulses as onnow stood at 9.54 million hectare, up by 3% as compared previous week and down by 5.21% compared to last year, government data showed. The 4th Advance Estimates pegged total pulses output for 2013-14 at 19.27 mntn, up from 18.34 mn tn earlier. There was a delay in the harvesting of the chana crop along with some crop damage in Madhya Pradesh, Rajasthan, Maharashtra and Andhra Pradesh. As per the Ministry of Agriculture, areaunder Rabi Pulses 2013-14 stood at 161.9 lakh ha as against 152.65 lakh ha last year. Chana sowing stood at 10.21 mn ha compared to 9.51 mn ha during the same period last year. Supplies of Chana since past one yearhas been ample as the country reaped bumper Chana output in 2012-13 season. For 2013-14 too, the government in their third advance estimates has projected record output of at 9.9 mn tonnes in the Rabi season.According to India Pulses and Grains Association, Apr-Dec’13 stood at import 2.4 mn tn vs 2.8 mn tn last year. In value terms, India imported $2.3 billion of pulses in 2012-13, almost 28% higher over $1.85 billion in thepreceding year. In Delhi spot market, chana dropped by -15.8 rupee to end at 2934.2 rupee per 100 kgs. Technically market is under short covering as market has witnessed drop in open interest by -0.1% to settled at111210, now Chana is getting support at 2864 and below same could see a test of 2847 level, And resistance is now likely to be seen at 2892, a move above could see prices testing 2903.

NCDEX Turmeric Oct 2014 TRADING IDEA

OPEN 6670 SUP-2 6500 Turmeric trading range for the day is 6500-6824.

CLOSE 2882 RES-1 2892 NCDEX accredited warehouses chana stocks dropped by 1597 tonnes to 110797 tonnes.

% CNG 0.17 RES-2 2903 BUY CHANA OCT @ 2870 SL 2850 TGT 2900-2940.NCDEX

HIGH 2886 SUP-1 2864 Chana gains due to short covering amid concerns over production of summer-sown pulses after prices dropped in last some sessions.

LOW 2858 P.P. 2875 The 4th Advance Estimates pegged total pulses output for 2013-14 at 19.27 mn tn, up from 18.34 mn tn earlier.

NCDEX Chana Oct 2014 TRADING IDEA

OPEN 2870 SUP-2 2847 Chana trading range for the day is 2847-2903.

137.7136.7135.1

129.9131.5132.5

2120

134.1

0.85


Positive Positive

SPREAD 174 3843 -13.00 4.60 -424.55 0.65 6.20

TREND Positive Positive Positive Positive Positive Positive Positive

1.00

1116.8 123.327418 42081 5689 231.1 422.0

OI 9994 10443 11303 9308 9142 6141 7042 5967141.1 1107.1 121.6

142.7 1135.2 124.3142.1

P. POINT 27519 42258 5734 234.8 425.9

27166 41707 5567 225.3 415.5SUPPORT 27267 41884 5612 229.0 419.4

428.5 144.3 1163.3 127.0143.7 1144.9 126.0

RESISTANCE27922 42829 5933 242.7 435.0 145.9 1191.4 129.727771 42632 5856 240.6 432.4 145.3 1173.0 128.727670 42455 5811 236.9

CLOSE 27570 42277 5767 233.2 424.55 143.3 1153.5 125.2

Menthaoil settled down -0.98% at 670.2 due to fall in demand in the spot market. Besides, increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh too supported menthaoil prices downtrend. At Chandausi market arrivals were reported at 70 Drums(1-drum-180kg), up by 70 Drums(1-drum-180kg) from previous trading day. At Sambhal market sources reported arrivals at 60 Drums(1-drum=180kg), steady as against previous day’s arrival. At Barabanki market sources reported arrivals at 350 Drums(1-drum-180kg), unchanged as compared to previous day’s arrival. At Rampur market total arrivals are at15 Drums(1-drum=180kg), unchanged as compared to previous day’s arrival. At Bareilly market total arrivals are at 6 Drums(1-drum-180kg), steady as against previous day’s arrival. In the current season, the production ofmentha oil is estimated at about 50,000 to 60,000 tons, whereas last year this figure was 38,000 to 42,000 tons. Thus up to 40 per cent of stock is estimated to be still lying in the godowns. Mentha is an aromatic herb usedfor medicinal oil extraction. Mentha oil is used widely in cosmetic and food industry as "mint" for flavour. India's production of mentha oil may touch 60000 tons this year. Area under crop may touch 2.10 lakh ha vs 1.75 lakhha last year. Technically market is under fresh selling as market has witnessed gain in open interest by 0.12% to settled at 9417 while prices down -6.6 rupee, now Menthaoil is getting support at 666.4 and below same couldsee a test of 662.5 level, And resistance is now likely to be seen at 676.6, a move above could see prices testing 682.9.

DAILY MARKET LEVEL FOR METAL AND ENERGY

COMMODITIES GOLD SILVER CRUDE NAT.GAS COPPER ZINC NICKEL ALUMINUM LEAD

133.4

CLOSE 670.2 RES-1 676.6 Besides, increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh too weighed.

% CNG -0.98 RES-2 682.9 MENTHAOIL IS IN OVERSOLD ZONE WILL WAIT FOR ENTRY

HIGH 679.0 SUP-1 666.4 Menthaoil spot is at 746/-. Spot market is down by Rs.3/-.

LOW 668.8 P.P. 672.7 Mentha oil edged lower due to fall in demand in the spot market.

MCX Menthaoil Sep 2014 TRADING IDEA

OPEN 677.0 SUP-2 662.5 Menthaoil trading range for the day is 662.5-682.9.

11:30am EUR 0.016 -0.0321:40pm EUR 0 47.65:00pm USD 0 0.2445:15pm EUR 0.0015 0.00155:45pm USD 218K 218K6:00pm EUR 0 06:00pm USD -42.5B -41.5B6:00pm USD 298K 298K6:00pm USD 0.025 0.0256:00pm USD 0.006 0.0067:15pm USD 58.5 58.57:30pm USD 57.3 58.78:00pm USD 72B 75B

8

British manufacturing growth eased further in August to its lowest level in 14 months as output anddemand increased at slower rates, survey results from Markit Economics showed. The Markit/CIPSPurchasing Managers' Index dropped to 52.5 from a revised 54.8 in July. Economists had expectedthe score to fall to 55.1 from July's original figure of 55.4. The latest PMI reading was the lowest sinceJune last year. "Sustaining the upturn is nonetheless still a positive in itself, and it should be notedthat the pace of expansion remains solid and a touch above its long-run average," Markit SeniorEconomist Rob Dobson said. "However, it is also becoming increasingly evident that UK industry is not immune to the impacts of rising geopolitical and global market uncertainty, especially when theyaffect economic growth and business confidence in our largest trading partner the eurozone." Outputand new orders growth slowed even as the expansion trend was extended to one-and-a-half years.Both domestic and exports orders increased. Production and new business improved across the board,yet signs of a slowdown have become increasingly evident in recent months, the survey said. Growthrates also eased in all product categories.

The services sector in Japan contracted in August, albeit barely, the latest survey from MarkitEconomics revealed on Wednesday with a purchasing managers' index score of 49.9. That was downfrom 50.4 in July, and it slipped below the boom-or-bust score of 50 that separates expansion fromcontraction. Among the individual components of the survey, new business growth and payrollnumbers both remained in expansionary territory for the third straight month. "Latest PMI dataindicated a fall in business activity for Japanese services, although at only a slight pace. New businessgrowth, on the other hand, was sustained for a third month in a row. Furthermore, job creationremained in growth territory amid reports of planned company expansions," said Markit economistAmy Brownbill. Markit's composite PMI climbed to 50.8 from 50.2 in the previous month. Japanesemanufacturing business conditions improved during August, with both output and new orders rising atthe fastest pace since before the sales tax increase was implemented in April. Higher manufacturingproduction was largely reflective of increased new orders, and the rate of expansion was sharp andthe highest since March. A further marked increase in new export orders was also recorded.

The Uttar Pradesh government’s additional assistance of Rs. 6/quintal of sugarcane to enable privatesugar millers to pay more than Rs. 5,000 crore in outstanding cane arrears was questioned by the UPSugar Mills Association (UPSMA) in a statement released on Monday. Millers were earlier given reliefof Rs. 11/quintal and the total subsidy now amounts to Rs. 17. The UPSMA statement, titled‘Assistance of Rs. 6 per quintal of cane by Government inadequate’, argued that given poor revenuerealisation due to depressed sugar prices and the lack of a rational cane pricing policy in the state,private millers had been given short shrift in comparison to sugar cooperatives which had been givenassistance at the rate of Rs. 69 per quintal of cane. A Rs. 400 crore provision had been made forcooperative mills earlier this year with an additional assistance of Rs. 200 crore being promisedrecently. “The question to be answered is if the cooperative mills have supposedly lost Rs. 69 perquintal of cane, how can the losses of private mills be assumed to be just Rs. 17 per quintal,” thestatement read. UPSMA questioned the rationale behind providing 23 cooperative mills procuring 695lakh quintals of cane with help worth Rs. 600 crore while aiding 95 private mills purchasing 6,271 lakhquintals with Rs. 375 crore. The announcement of the additional financial break was made by theState Government last Friday during a meeting in the presence of Chief Minister Akhilesh Yadav.

Cotton acreage this kharif has touched a new high with the fibre crop gaining area from crops such assoyabean and corn in key growing States of Maharashtra, Gujarat, Andhra Pradesh, Karnataka andTamil Nadu. Area under cotton has risen to a record 12.25 million hectares, an increase of 12 per centover last year’s 11.16 million ha and is poised to touch 12.5 million ha with plantings still on in coastalAndhra Pradesh and Tamil Nadu. “Cotton acreage this year is at a new record. The sowing is still on inAndhra and Tamil Nadu and the overall acreage could increase by two to three lakh ha more,” said KRKranthi, Director at the Nagpur-based Central Institute of Cotton Research (CICR). Previously, thecotton acreage had touched a high of 12.19 million ha in 2011. Kranthi mainly attributed the increasein cotton acreage this year mainly to the high cost of soyabean seeds and the impact of delayedmonsoon on its plantings that prompted the farmers to switch over to the fibre crop. The switchoverto the fibre crop by farmers has boosted cottonseed sales, bringing cheers to the hybrid seedindustry. Increase in acreage would mean a higher crop, this year too. However, experts say its tooearly to comment on the crop size. “Rains in September and October are crucial for the crop. Aclearer picture on the crop size would emerge by October-end,” said MB Lal of Shail Exports. In 2013-14 cotton output stood at a record 395 lakh bales of 170 kg each according to the Cotton Association

Date : Thursday, September 04, 2014 URL : www.achiieversequitiesltd.com Page No -

Unemployment ClaimsRevised Nonfarm Productivity q/qRevised Unit Labor Costs q/qFinal Services PMIISM Non-Manufacturing PMINatural Gas Storage

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China's service sector expanded in August after showing no change in July, results of a survey byMarkit Economics and HSBC Bank showed. The HSBC services business activity index increased to54.1 in August from 50 in July. This indicated expansion as the index came in above the no-changemark of 50. New orders in the service sector continued to increase, and the rate of expansion wasfastest since January 2013. Employment levels also continued to rise at a moderate rate in August.Input costs continued to grow, though at a slower rate than in July. Output prices rose for the firsttime since March, though at a fractional pace. The HSBC composite output index, a combinedmeasure of manufacturing and service sector activity, grew to 52.8 in August from 51.6 in July. Thissignaled a faster rate of expansion in private sector activity. Earlier, a report from China's NationalBureau of Statistics showed that its non-manufacturing business sector activity expanded at a slightlyfaster rate in August.

Thu

German Factory Orders m/mRetail PMIChallenger Job Cuts y/yMinimum Bid RateADP Non-Farm Employment ChangeECB Press ConferenceTrade Balance

NEWS YOU CAN USE DAY TIME ZONE ECONOMICAL DATA EXP

Achiievers Equities Daily Commodity Report

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