Wednesday, August 5, 2020

Current trend expected to stay

The Covid-19 pandemic still seems far from peaking out, as the number of cases continued to rise across the world. While market seems to be in a consolidation mode with the momentum slowing down in the last couple of days. This trend is expected to stay such since the Covid-19 uncertainties continue.

OPEC is planning on reversing some of the output cuts initiated earlier this year heading into August, and any impact of this on crude prices will be another factor to watch. The Reserve Bank of India is likely to leave the repo rate unchanged in the forthcoming money policy due on 6th August 2020.

The sales percentage has increased in the midst of the Covid-19 pandemic as customers prefer personal mobility over public transport. July auto sales numbers showed a solid bounce back. Top industry players seem to be leading the sector’s crawl back to normalcy amid an easing coronavirus lockdown. More than 250 companies will announce their financial results next week for the quarter ended 30th June 2020.


The benchmark RSS4 grade rubber closed at `.132.50 a kg at Kottayam, while RSS3 grade closed at `.121.42 a kg at Bangkok and Malaysian SMR20 closed at `.93.95 a kg. On ICEX August 2020 futures closed at `.133.94 a kg, September at `.131.00, October at `.134.37, November at `.135.71, December at `.137.07 and January 2021 closed at `.138.43 a kg.


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