Bombay Stock Exchange allows commodity derivatives to trade in Negative

The oldest stock exchange of Asia Bombay Stock Exchange ( BSE ) has made changes in its system to allow for trading in commodity derivatives at negative prices, following the collapse of Unites States crude oil futures last week.

The Indian exchange's BOLT Plus trading system has been modified to accept orders and execute trades at negative prices, BSE said.

The May contract of the West Texas Intermediate ( WTI ) crude has closed at minus $ 37.63 on 20th April as lockdowns following the covid-19 induced lockdown crushed demand for the commodity.

Buy Zylog Systems - Lower Circuit Broken

Today finally Zylog System has broken the long trend of LC and closed in green @ 69.35 with volumes of more than One Crore on NSE and 65 Lakh on NSE. So what does it mean, the stock is likely to see the upmove from now on. As investors, traders and Instutional Investors have realised the value potential in this stock at such low price.

Now those who are stuck in it at higher price can do some averaging now and those who are following to buy should immeaditely buy the stock. As when it starts hitting Upper Circuit , you would not be able to catch it as what happened to those who wanted to sell in LC.

Hence those who are wiling to take some risk should buy the stock and fix your target and when target get hit take the profit.

Market down more than 400 Points

Media reports that the government will have a disinvestment road
map in place in about three months to bridge the high fiscal
deficit, may cap the fall.

Asian stocks fell for a sixth day today, led by finance and mining
companies, as an unexpected drop in Japanese machinery orders
fanned concern a global economic recovery will falter. Key
benchmark indices in China, Hong Kong, South Korea, Singapore and
Taiwan were down by between 1.16% to 2.17%.

Japan's Nikkei fell 2.45% after the latest data showed Japanese
core machinery orders fell 3% from a month earlier in May 2009.

Trading in the US index futures indicated Dow could fall 20 points
at the opening bell today, 8 July 2009.

US markets closed deep in the red yesterday, 7 July 2009 as stocks
fell to their lowest level in 10 weeks amid growing doubts about an
economic recovery. The Dow slipped 161.27 points, or 1.9%, to
8,163.60. The S&P 500 index fell 17.69 points, or 2%, to 881.03.
The Nasdaq Composite Index lost 41.23 points, or 2.3%, to 1,746.17.


Back home, the Indian government is reportedly planning to sell
about 10-20% stake in listed blue chip companies. Among those
likely to be targeted are ONGC, Indian Oil Corporation (IOC), NTPC,
Bharat Heavy Electrical (Bhel) and Steel Authority of India (Sail).
Considering that these companies are profitable, selling stakes at
the opportune time could fetch the government a neat revenue that
could help bridge the fiscal deficit.

The government set an very small target of Rs 1120 crore from
divestment for the financial year ending March 2010 in the Union
Budget 2009-2010 which it unveiled on Monday, 6 July 2009.