TopNews

Copper ended higher as a weaker dollar and improving fundamentals supported prices, but gains were capped by concerns about U.S. economic recovery and metals demand. Copper stocks at LME-registered warehouses dropped 1,100 tonnes to 416,525 tonnes, extending a fall that started in February. Copper stocks at LME warehouses hit 555,075 tonnes in late February, the highest level since October 2003.Copper has touched a low of Rs 319.3 a kg after opening at Rs 322.45, and last traded at Rs327.3.For today market is looking for the support at 320.9, a break below could see a test of 314.6 and where as resistance is now likely to be seen at 332, a move above could see prices testing 336.8.

Crude oil ended higher amid a potential storm threat in the Gulf of Mexico.

Silver jumped as optimistic sentiment gleaned from the day's corporate earnings and economic data points boosted industrial commodities. Silver opened the day slightly lower at 28777 dipping to its intraday low 28625. Rallies in base metals and crude, on improved earnings forecasts, saw Silver trade to its intraday high of 29120. Following gold, silver settled into quiet range trading for the remainder of the session eventually closing at 29022. Now support for the silver is seen at 28725 and below could see a test of 28427. Resistance is now likely to be seen at 29220, a move above could see prices testing 29417.

Trading Ideas:

Technology giant Wipro Ltd has registered net profit worth Rs 13.19 billion for the three month period ended June 30, 2010.

This showed an increase of 31% year-on-year (YoY) in the company's net profit.

In a declaration, the IT bellwether stated that its total revenue during the quarter first quarter (Q1) increased by 16.6% YoY to Rs 72.36 billion.

Under the International Financial Reporting Standards (IFRS), Wipro's net income for the first quarter stood at $284 million and total revenue $1.56 billion.

Gold ended down but most of its losses recovered amid a weaker dollar as traders looked ahead to the r

India has introduced a Rs 1,500 (around $30) laptop computer, which is designed specifically for pupils.

After unveiling the low cost-access-cum computing device, Human Resource Development Minister Kapil Sibal said, "If more companies decide to manufacture a similar device, prices will come down automatically."

Mr. Sibal said that the low cost laptop would be made available to pupils by the coming year (2011).