27/1/2015 stock news

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Oil prices will probably continue to decline and could reach as low as $30 a barrel, according to Gary Cohn, president of Goldman Sachs Group Inc.

“We’re probably in the lower, longer view,” Cohn, a former oil trader, said Monday in an interview with CNBC.

West Texas Intermediate for March delivery fell 44 cents to close at $45.15 a barrel on the New York Mercantile Exchange, the lowest settlement since March 11, 2009.

Crude oil has slumped almost 60 percent since June as the Organization of Petroleum Exporting Countries resisted calls to cut output and the U.S. pumped at the fastest pace in more than three decades. Drillers in the U.S. have begun to idle rigs as falling prices make wells aiming to tap shale reserves unprofitable.

Cohn, 54, said the commodity business is “very, very strong” because consumers and oil-producing nations are in different positions than they have been in the past few years.

“If you’re a consumer today and you can lock in these prices, you’re a lot more aggressive in the markets in hedging than you ever have been,” Cohn said. “The flip side is if you’re an oil-exporting country today and you’re looking at these oil prices and you see a fairly steep forward curve and you see 10 or 15 dollars of price higher a year forward then you do in the spot market, you have to consider trying to lock into that forward price.

Mario Draghi called on the European Central Bank to make its biggest push yet to fend off deflation and revive the economy by unleashing a debt-buying spree of 1.1 trillion euros ($1.3 trillion).

The ECB president and his Executive Board proposed spending 50 billion euros a month through December 2016, two euro-area central-bank officials said. The plan still faces a tense debate in the Governing Council and may change before the final decision on Thursday.

The International Monetary Fund (IMF)'s forecast that the Indian economy will be the fastest-growing major global economy - outpacing China - by 2016-17.

IMF in its latest World Economic Outlook report pegged India's economic growth rate at 6.5 per cent for 2016-17, higher than China's projected growth rate of 6.3 per cent.

IMF, however, lowered global economic growth forecast for 2015 and urged central banks to purse an easy monetary-policy stance and asked governments to pursue structural reforms to support growth.

"For India, real GDP [gross domestic product] growth is projected to strengthen to 5.4 per cent in 2014 and 6.4 per cent in 2015, assuming that government efforts to revive investment growth succeed and export growth strengthens after the recent rupee depreciation," IMF said in the report titled Recovery Strengthens, Remains Uneven.

What To Do Today..........

 

Our Opininon for Today's Market.......

1.Market Looks Volatile.....

1.Some Insider Say NIfTy go up to 6200

What To Do Today........

Nifty....Today Face Resistance at......8858..8895..8955

Nifty.....Today Support at ..8775..8735...8655

Nifty Range...7200--------9200

TRACK ME RESEARCH......

NEXT TGT FOR

Our Opinion for Today's Market.......

1.Stock Specific Movement Expected Today ......

2. Mid-caps Looks Good....

INTRADAY HOT STOCKS: 27/1/2015

buy icicbk sl 352 tgt 375/380sell below 350

buy cromtopn sl 187 tgt 198/204

buy relcap sl 460 tgt 485/505

buy Reliance sk 885 tgt920/940

buy tata st sl 395 tgt 412/420 sell below 394

buy idfc sl 165 tgt 180

 

 

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