Shri Aavishkar Metals Pvt. Ltd.

Shri Aavishkar Metals Pvt. Ltd. Renowned Recyclers and Importers Pioneer since 1988 in the field of metals and chemicals. A name to trust upon.

Never give up Never give in ; Never, ever, ever give up.
07/11/2021

Never give up Never give in ; Never, ever, ever give up.

Let’s Welcome The Vibrant Festival Of Colors With Joy & Jubilation.!!
28/03/2021

Let’s Welcome The Vibrant Festival Of Colors With Joy & Jubilation.!!

Let's Join Hands for Global Waste Management Crisis.
18/03/2021

Let's Join Hands for Global Waste Management Crisis.

"Behind every chronic illness is just a person trying to find their way in the world. We want to find love and be loved ...
01/12/2020

"Behind every chronic illness is just a person trying to find their way in the world. We want to find love and be loved and be happy just like you. We want to be successful and do something that matters. We're just dealing with unwanted limitations in our hero's journey." - Glenn Schweitzer

A Good Long Ride Can Clear Your Mind, Restore Your Faith and Use Up a Lot of Fuel !
22/11/2020

A Good Long Ride Can Clear Your Mind, Restore Your Faith and Use Up a Lot of Fuel !

A Good Long Ride Can Clear Your Mind, Restore Your Faith and Use Up a Lot of Fuel
22/11/2020

A Good Long Ride Can Clear Your Mind, Restore Your Faith and Use Up a Lot of Fuel

"Let This Diwali Burn All Bad Times"
15/11/2020

"Let This Diwali Burn All Bad Times"

27/02/2019

*Global Markets Update*
27th Feb 2019

*USDINR*
Yesterday USDINR opened gap up at 71.26 vs previous day's close at 70.9850 on account of domestic geopolitical fears post India's air strike against Pak. The pair immediately touched a high of 71.3450. However as the uncertainty subsided, Rupee recouped most of the losses and touched 70.99. Foreign banks were seen on offer for most part of the day. The pair traded range bound post the initial mayhem, largely between 71.00-71.10, finally closing at 71.0725. Overnight dollar traded softer after feds chief's dovish testimony. USD INR is likely to open at 71.10 levels and trade in a range of 70.80-71.25.

*Forwards*
Yesterday, tracking Dollar Inr spot , the premium for the month of January opened higher at 265.50 level. Further with weakness in rupee on the news of escalating border tensions between India and pakistan we saw paying throughout the curve and touched a high of 266.25 and a low of 264 with closing at 266.25 levels. Today we expect the premiums to open between 264.5/266.5 and may trade between 263-268 with further direction from spot rupee.
1y annualized yield is at 4.06% and is expected to be in the range of 4.04 - 4.08%.

*FX Derivatives*
U.S. treasury yields fell on back of
comments from Fed Chair Powell, who reiterated the central bank’s dovish monetary-policy stance. 10Y benchmark fell by 4bps to 2.6340% while 30Y slipped by 1.5bps to 3.00%. 2Y rate is at 2.4840%.
In domestic market, Mifor traded with a flattish bias as 2Y, 3Y and 5Y (mid) closed at 6.8350%, 6.9450% and 7.0650% resp. Today MIFOR is expected to trade with a mild receiving bias. ATMF Vols 1W(mid) spiked by 65 bps to close at 6.40% 1M & 3M(mid) vols closed higher by 15bps and 7bps at 6.4650% and 8.8850% resp. 6M(mid) closed flat at 7.8250%. 1Y(mid) ticked higher by 2bps to 7.1400% resp. We expect vols to trade steady today.

*Rates*
Indian bond market opened weaker on account of report that Indian fighter jets bombed terror camp inside Pakistan, raising concern of further escalation but later recovered tracking rupee and equity market along with OMO expectations. Previous benchmark 7.17 28 closed at 7.59, compared to previous closing of 7.58, the new benchmark closed at 7.42% compared to previous closing of 7.41%. OIS 1 year closed at 6.24 compared to the earlier closing of 6.25 while 5 year OIS closed at 6.32 compared to an earlier close of 6.33. Against market expectation of around 50 K of OMO , RBI has announced 25 K of OMO, although it's only for one fortnight. Rising crude price against falling US inventory may also dampen the sentiment. Expect 7.17 28 to be in the range of 7.58-7.62, new benchmark in the range of 7.41-7.44, while OIS 1 year in the range of 6.23-6.26 and 5 year in the range of 6.31-6.34 for the day.

*Equities*
Yesterday, despite positive global cues, Indian equity Markets opened in deep red as the news came that Indian Air Force strikes at terrorist camps in pakistan early morning. However Nifty managed to recover most of its losses and closed down by 45 points at 10835 whereas Sensex closed at 35974, down by 240 points. Sectorally, selected IT along with cement and auto stocks were up whereas financials were under pressure. On cash front, FIIs were net buyers to the tune of 1674 crs, while DII sold net of 720 crs. Today Nifty is expected to open positive and will be volatile due to rising geopolitical tensions and monthly expiry ahead. Nifty is likely to trade in a range of 10720-10900.

*Crosses*
Dollar fell against major currencies as Federal reserve chairman Jerome Powell said central bank will remain patient on monetary policy. Fed has paused on its pace of rate hikes as it evaluates headwing in domestic economy and abroad. He said that rising risk and recent soft data were unlikely to prevent solid growth for US economy. Dollar index traded in the range between 96.46 to 95.948 and is currently at 96.10. Pound gained against dollar as labour party said it would put forward an amendment for second referendum on Brexit. It raised the expectations among investors that UK will try to extend deadline. UK Prime Minister also offered chance to lawmakers to vote for delaying Brexit. GBP touched a high of 1.3288. Euro traded in the range between 1.1402 to 1.1345. Dollar was little changed against yen at 110.56. AUD was higher at 0.7195. XAU range for the day is 1324 to 1334.

17/07/2018

*Global Markets Update*
17th July 2018

*USD V/S INR
Yesterday's opening 68.5500. Low 68.5250 High 68.7150 Close 68.5700 .
Yesterday rupee opened little weak against the dollar at 68.5500. The pair traded to a low of 68.5250 during initial trades. Tracking negative equity market and with release of a higher than expected WPI data, the pair touched a high of 68.7150. However selling by public sector banks took the pair lower before finally closing at 68.5700.
Yesterday US retail sales data came on expected lines at 0.5%. Crude prices are currently trading at $72.30. Tracking other Asian currencies, we expect rupee to open strong around 68.45. However market will be cautious ahead of Federal Reserve Chairman Jerome Powell's first congressional testimony. We expect rupee to trade in the range of 68.30 to 68.60.

Forwards:
Yesterday the premium for June opened at 279.50 level. It moved in the range of 277.75-280 and closed at 277.75. Today we expect premium to open at 276/278 and expect it to range between 273-280 with slight receiving bias. 1y annualized yield is at 4.28% and is expected to be in 4.24-4.29 range.

FX Derivatives:
US yields moved higher on the back of strong retail sales data. US 10Y and 30Y yields are currently trading at 2.86% & 2.96%. 2Y yields currently are at 2.60%. MIFOR market traded flat with slight receiving bias as 4Y, 5Y Mifor (offer) moved lower by 2bps and closed at 7.64% & 7.76% resp. 2Y and 3Y(offer) closed 1bps lower at 7.28% & 7.44% resp. Today MIFOR is expected to trade flat with receiving bias.
1W vols (offer) moved lower by 4bps to 5.97%. 3M & 6M (offer) Vols fixed 1-2bps lower at 5.65% and 5.80% resp. 1Y(offer) moved up by 5bps to 6.23% resp. Today we expect vols to ease off.

Rates:
The 2028 benchmark opened at 7.81, touched a low of 7.79, a high of 7.85, before finally closing at 7.80. Private banks were major buyers and mutual funds were major sellers. Fears of rising inflation and some profit booking put upward pressure on yields for the day. Lowering of crude helped to cool yields towards closing. With Brent prices significantly down, range for the benchmark today is 7.75 to 7.82.
The 1 yr OIS and 5 yr OIS closed at 6.91 and 7.26, both 1 bps lower than previous close. The expected levels for 1 yr OIS is 6.85 to 6.93 and 5 yr is 7.20 to 7.28 .

Equities:
Yesterday we saw a heavy selling in indian equity markets. Nifty closed down by 82 points, at 10937 levels whereas the Sensex closed at 36324 levels, down by 218 points. Nifty midcap and smallcap indices were down by 2.57% and 3.08% respectively. IT stocks were major gainers whereas metals and pharma were major losers. FII were net sellers to the tune of 626 crs , while DII sold net of 70 crs. On the derivative front highest call and put open interest for July series are at 11000 and 10600 respectively. Today Nifty is expected to open flat and is likely to trade in a range of 10850-10975.

Crosses:
Dollar was slightly lower against major currencies yesterday as in line US retail data did little to strengthen dollar. All eyes will be on Jerome Powell's testimony today. Dollar index fell to around 94.31. Retail sales grew by 0.5% compared with upwardly revised 1.3% in May. Dollar was also kept in check by an uptick in safe haven currencies like yen and swiss franc. Euro touched a high of 1.1725 but failed to break that level. GBP touched a high of 1.3260 but was not able to extend it's gains and again fell to around 1.3235. USD/JPY went down to 112.30. AUD was little changed and settled at around 0.7419. Gold touched a high of 1245 but soon fell to 1239 levels. Expected range for today is 1236 to 1245.

29/06/2018

USD V/S ₹ Weekly Update:

Indian Rupee remained under pressure during first half of the week as risk off sentiment returned after trade wars fears moved to the forefront. Rising crude oil prices, after the OPEC decision and US taking a tough stance on Iran sanctions, were the major factor contributing to the fall in Rupee to the weakest level till date of 69.09 on Thursday, even though it managed to close below previous high of 68.85. As the US Dollar weakened globally, USD/INR reversed direction during the rest of the week, but still ended 0.94% stronger at 68.47 levels. During a major part of the week equity markets saw a massive sell off with Nifty falling 2.10% in the first 4 days, but recovered partly on Friday owing to improved risk sentiments. This month, FIIs have pulled out Rs 14,120 Cr from Indian equity and debt markets up to 28th June 2018 which is still lower than previous month’s outflow of Rs 29,776 Cr.
US Dollar fell during the first day of the week as trade war concerns between US, China and EU regained momentum. US threatened restrictions on Chinese investments while EU announced retaliatory tariffs on US. But later during the week, the Trump administration seemed to relent saying that no new regulation was required to vet Chinese investment, leading to a greenback rally which tested the recent high of 95.53. Following the OPEC+ meet over the weekend, US asked all its allies to stop imports from Iran completely and refused exemptions to countries like China and India, pushing oil prices higher by 4.6% in just 5 days as the current available spare capacity is not enough to replace Iranian crude production. This led to weakness in commodity currencies, supporting the greenback through the week. But after the breakthrough EU deal on migrants, EUR/USD pair rallied leading to USD weakness against other majors as well. Dovish comments from some Fed members after weaker than expected GDP growth data release also hurt the greenback.

23/06/2018

Weekly Dollar V/S ₹ Update :

USDINR pair saw choppy trading this week starting with a gap up opening on renewed trade war fears as US announced plans to assess additional tariffs for Chinese imports. But lower crude oil prices supported the Indian currency during the first day of the week. Continuous dollar demand from foreign banks led the pair higher to the week’s high of 68.39 levels on Tuesday. RBI minutes released mid week led to buying in bond markets as a slower pace of rate hikes was indicated. This provided support to the currency and, along with USD weakness, took the pair lower to break below 68 figure and end the week at 67.83 levels. The direction in crude oil after today’s OPEC meet will be the most important factor for further direction in the pair.
The greenback gained during most part of the week supported by weaker Euro and GBP. Euro was down on German political uncertainty and ECB President’s dovish comments while GBP remained under pressure owing to uncertainty over Brexit vote in the House of Commons. But as the week ended, these moves were reversed. GBP gained on Thursday after the BoE meet where the rates were kept unchanged but with a 6-3 vote which increased expectations of a rate hike in the next meet. DXY index pared all its gains and moved below its previous week’s close to touch a low of 94.43 levels. On crude oil, the pre-meeting comments from OPEC oil ministers reflected optimism for reaching an agreement to increase supply. But Iran’s stance on the agreement would be crucial after it had walked out of the OPEC meet yesterday.

30/10/2017

DOLAAR V/S RUPEE (₹) as on 30/10/2017 :

Indian rupee opened weaker on Friday tracking global dollar strength, and touched 65.10 levels during fixing. From here some exporter selling took the pair to the day’s low before closing at 65.05 levels. In equity markets, FIIs sold stocks worth Rs 641 Cr and DIIs bought stocks worth Rs 57 Cr (provisional).

US dollar strengthened for most part of Friday on the back of better than expected advance GDP numbers which came in at 3% vs 2.6% expected. The growth number was propped up by higher prices component and higher inventories whcih is likely to reverse going ahead. Euro depreciation on account of Catalonia trouble also supported the Dollar. DXY touched a high at 95.15 levels, but later eased off on the news of President Trump favouring Jeremy Powell for next Fed chair. US equities closed positive on Friday while Asian markets are also trading in green today morning.

Rupee has opened strong today morning and is seen appreciating during early trade. For the day, we expect the $/INR pair to trade in the range 64.83-65.05.

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