MCX Crude Oil may witness lower level buying 6100-6170 range

Crude oil may witness lower level buying. Overall it can move in range of 6100-6170 in MCX. 

Brent rebounded from its biggest loss in almost three weeks as the U.S. said it will impose more sanctions on Russia, the world’s biggest energy exporter, as the Ukraine crisis escalates. 

Representatives of the 28 European Union nations will meet today to widen a list of people subject to asset freezes and travel bans, an official from the bloc said over the weekend. 

The sanctions will target 15 Russians in positions of power, another diplomat said. Both asked not to be identified because of the sensitivity of the matter. Natural gas may trade in range of 282-292 in MCX.

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U.S. futures slip lower as Ukraine crisis weighs; Dow Jones down 0.21%

 U.S. stock futures pointed to a lower open on Friday, as concerns over mounting tensions between Russia and Ukraine weighed on equity markets across the board, while investors eyed the release of U.S. consumer sentiment data later in the day.

U.S. futures slip lower as Ukraine crisis weighs; Dow Jones down 0.21%U.S. futures point to lower open, affected by Ukraine worries
Ahead of the open, the Dow 30 futures pointed to a 0.21% fall, S&P 500 futures signaled a 0.14% slip, while the Nasdaq 100 futures indicated a 0.19% loss.

Market participants were eyeing upcoming U.S. data after a report on Thursday showed that U.S. durable goods orders rose more than expected in March, fuelling optimism over the strength of the country's economic recovery.

Meanwhile, investors remained cautious after Ukrainian forces killed up to five pro-Moscow rebels on Thursday. In response, Russia launched army drills near the border, sparking fears its troops would invade.

U.S. Secretary of State John Kerry said Washington was drawing closer to imposing more sanctions on Moscow.

The tech sector was slated to be in focus, after Apple (NASDAQ:AAPL), Google (NASDAQ:GOOGL), Intel Corporation (NASDAQ:INTC) and Adobe Systems (NASDAQ:ADBE) agreed to pay $324 million to settle an employee lawsuit over claims they conspired to suppress salaries by not recruiting one another’s workers.

Shares in Apple were down 0.57% in pre-market trade and Google slipped 0.18%, while Intel eased 0.07%.

In earnings news, Microsoft (NASDAQ:MSFT) said late Thursday that et income in the fiscal third quarter was $5.66 billion, or 68 cents a share, beating the average analyst estimate of 63 cents. Sales were $20.4 billion, matching projections.

The news sent the company's stock up 2.06% in early trading.
Amazon.com (NASDAQ:AMZN) also moved lower on the other hand, tumbling 1.23% pre-market, after the internet retailer posted earnings of 23 cents a share, matching market expectations, while revenue was higher at $19.74 billion.

Among energy stocks, Chevron (NYSE:CVX) was expected to be active after announcing plans to run higher-sulfur Alaskan and Middle Eastern crudes when it completes work at Northern California’s largest refinery in 2016.

Other stocks likely to be in focus included Ford (NYSE:F), Colgate-Palmolive (NYSE:CL), Moodys (NYSE:MCO) and State Street (NYSE:STT), scheduled to report quarterly results later in the day.
Across the Atlantic, European stock markets were lower. The DJ Euro Stoxx 50 dropped 0.58%, France’s CAC 40 slid 0.36%, Germany's DAX tumbled 0.97%, while Britain's FTSE 100 shed 0.31%.

During the Asian trading session, Hong Kong's Hang Seng plummeted 1.50%, while Japan’s Nikkei 225 added 0.17%.
Later in the day, the U.S. was to release revised data on consumer sentiment.

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Gold futures up on firm global cues

Gold futures rose by 0.50 per cent to Rs 28,443 per 10 gm today as speculators enlarged positions on the back of firming global trends.

At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 142, or 0.50 per cent, to Rs 28,443 per 10 grams, with a business turnover of 90 lots.

In a similar fashion, the metal for delivery in June moved up by Rs 140, or 0.49 per cent, to Rs 28,930 per 10 grams, with a trade volume of 1,763 lots.

Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as the conflict between Russia and Ukraine fuelled demand and buying increased in China, the world’s largest consumer.

Meanwhile, gold rose by 0.79 per cent to USD 1,293.90 an ounce in New York yesterday.

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