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Tuesday, April 29, 2008
Today's Pick - Cipla
Natural gas advances 51% this year
Natural gas advanced to a 28-month high as crude oil surged to a record after supplies were crimped by closure of a pipeline and a workers' strike. Gas for May delivery rose 31.7 cents (2.9%) to settle at $11.28 per million British thermal units. Gas has advanced 51% this year.
Against this backdrop, June reformulated gasoline fell 2.3 cents to $3.0307 a gallon and June heating oil was almost flat at $3.2988 a gallon.
Crude-oil prices were also rising on rebel attacks on oil installations in Nigeria. Five policemen were killed on last Sunday when rebel groups attacked the nation's largest oil and gas terminal. The development came amid renewed supply concerns last week after a rebel group attacked a pipeline late Thursday in Nigeria's southern Rivers State.
Crude had ended FY 2007 substantially higher by $35 or 57%. It was crude’s biggest yearly gain in five years.
At the MCX, crude oil for May delivery closed at Rs 4,758/barrel, higher by Rs 10 (0.2%) against previous day’s close. Natural gas for July delivery closed at Rs 453/mmbtu, higher by Rs 5.3/mmbtu (1.2%).
REL, RIL May 2008 futures at premium
Turnover in F&O segment declines
Nifty May 2008 futures were at 5117, at a premium of 27.35 points as compared to spot closing of 5089.65.
The NSE's futures & options (F&O) segment turnover was Rs 25,459.22 crore, which was lower than Rs 33,831.87 crore on Friday, 25 April 2008.
Reliance Energy (REL) May 2008 futures were at premium at 1438 compared to the spot closing of 1423.95.
Reliance Industries (RIL) May 2008 futures were at premium at 2595.35 compared to the spot closing of 2591.40.
Reliance Natural Resources May 2008 futures were near spot price at 123 compared to the spot closing of 123.55.
In the cash market, the S&P CNX Nifty lost 22.05 points or 0.43% at 5089.65.
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