Bullion in reverse gear as secure haven demand recede as on 10 July, 2015

The yellow metal lost bite as Gold trail back on Thursday after fears that Greece may be pushed out of the euro, and China’s stock market rout, ebbed, dimming the safe haven appeal of the bullion. Grexit fears waned as Greece submitted a fresh reform package that included spending cuts including those on pensions, and sales tax hikes, similar to those demanded by the country’s creditors aimed at winning new European bailout aid. Greece also proposed a debt restructuring proposal and a growth package of 35 billion euro.

The proposal will need a Greek Parliamentary vote due on Friday, while Greece’s request for fresh rescue aid will be discussed at an EU summit on Sunday.

China’s Shanghai Composite scripted the biggest rebound since 2009 as officials helped restore some confidence in the stock market after banning insiders from selling shares in listed companies while allowing banks to roll over loans backed by shares.

A powerful dollar also dimmed the lure for Gold as an alternative asset. powerful greenback makes Gold more costly for those holding other currencies.

However, speculation that the Fed may push back tightening rates for the first time since 2006 amid a spike in weekly jobless claims bolstered Gold’s appeal as a store of value, trimming losses in the precious metal. The FOMC minutes stressed that officials are awaiting a further evidence of     powerful economic growth including a pickup in consumer spending before deciding to tighten policy.

Gold may rebound today as a reduction in global growth forecasts by the IMF may revive Gold’s safe haven lure, while investors will eye Fed’s Yellen speech for more cues over timing of a rate hike.

At the MCX, Gold futures for August 2015 contract ended at Rs 26,064 per 10 gram, down by 0.57 %  after starting at Rs 26,202, opposed the previous closing price of Rs 26,213. It touched the intraday low of Rs 26,040 till the ended.

Today Bullion runs into stronger dollar As on 08 july, 2015

Extending a decline from Monday, the yellow metal fell prey to a steep sell-off with prices tanking more than 1 per cent in the domestic market on Tuesday as a stronger dollar curbed the demand for the bullion as an alternative asset. Stronger greenback makes Gold more costly for those holding other currencies, thus dimming demand. The dollar spiked against a basket of key currencies as investors sought shelter in the safety of the greenback as fears over Greece exiting the euro heightened as European leaders held an emergency summit to decide Greece’s fate in the euro.Bets of Grexit rose after European leaders set a Sunday deadline for Greece to submit a new set of reforms or face the ugly consequences of being pushed out of the common currency.

German chancellor Angela Markel conceded that she wasn’t very optimistic over a solution to Greece’s five-year debt troubles while an event of a Greek exit from the euro threatens to undermine the credibility of the euro that was meant to be irreversible, casting doubts over the strength of the region’s economic, monetary and political integration, prompting an exit from risky assets and bolstering safe haven demand for the US currency. Gold may trade on a subdued note today as traders eye the FOMC minutes which may offer cues over the timing of a maiden rate lift-off since 2006.

At the MCX, Gold futures for August 2015 contract closed at Rs 26,032 per 10 gram, down by 1.12 per cent after opening at Rs 26,276, against the previous Ending price of Rs 26,328. It touched the intra-day low of Rs 25,883 till the closing.

NCDEX Agro Outlook Tips Of 05.05.2015

Agro Outlook

CORIANDER
Coriander prices were up by 1.17 percent to Rs 10,221 per quintal in futures trade today after participants enlarged positions amid tight supplies on fall in arrivals from producing belts against pickup in demand in the spot market. At the NCDEX dhaniya futures for May 2015 contract was trading at Rs. 10,221 per quintal, up by 1.17 percent after opening at Rs. 10,151 against the previous closing price of Rs. 10,103. It touched the intra-day high of Rs. 10,278 till the trading.

CASTOR SEED
Castor seed futures traded higher by 0.46 percent to Rs 3,697 per quintal today after speculators enlarged positions following rising demand from consuming industries in spot markets. At the NCDEX, castor seed futures for May 2015 contract were trading at Rs. 3,697 per quintal tonnes, up by 0.46 percent, after opening at Rs. 3,670 against the previous closing price of Rs. 3,680. It touched the intra-day high of Rs. 3,700 till the trading. Traders said strong demand from consuming industries, including paint, soap and lubricant amid forecast of deficient rains this monsoon season, influenced castorseed prices at futures trade. Besides, pick-up in export demand also supported the uptrend in castorseed prices, they added.

Gold futures ended lower: MCX Gold Latest update of 05.05.2015

Precious Metals

GOLD
Gold futures ended lower in the domestic and overseas market on Friday as investors and speculators exited positions in the precious metal as a stronger dollar curbed the lure for gold as an alternative investment. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand. Two US Federal Reserve officials stressed that the world’s top central bank may raise interest rates as early as June as economic data strengthens after a poor first quarter when the world’s biggest economy was hit by “transitory factors”, curbing the lure for the bullion as a store of value. Further, Friday’s major economic releases also signaled a pickup in the economy with consumer sentiment climbing to the second-highest level since 2007 last month while US factories reporting higher production and orders in April. Gold may extend a decline today amid renewed expectations of a near-term Fed rate hike. At the MCX Gold futures for June 2015 contract closed at Rs 26,636 per 10 gram, down by 0.30 percent after opening at Rs 26,660, against the previous closing price of Rs 26,716. It touched the intra-day low of Rs 26,490 till the closing.

MCX Copper prices rose by 0.32 percent: Today's Base Metals Updates Of 04.05.2015

Base Metals & Energy

COPPER
Copper prices rose by 0.32 percent at the domestic markets after Housing starts in Japan rose more-than-expected in the last quarter signaling an improving housing market in Japan which raised the demand outlook for the metal. In a report, Ministry of Land, Infrastructure and Transport said that Japanese Housing Starts rose to a seasonally adjusted 0.7 per cent, from -3.1 percent in the preceding quarter. At the MCX copper futures for April 2015 contract were trading at Rs.391.85 per 1 kg, up by 0.32 percent, after opening at Rs. 391.45 against the previous closing price of Rs. 390.60. It touched the intra-day high of Rs. 392.50 till the trading. 

CRUDE OIL

Crude oil prices dipped on Thursday with investors awaiting stronger demand signals across the globe as central banks lean to easier policies. The Federal Reserve, kept interest rates at its current level following the conclusion of its Federal Open Market Committee meeting, but offered little clear language on the timing of its first rate hike in nearly a decade. At the MCX crude oil futures for May 2015 contract were trading at Rs. 3,735 per barrel, down by 0.53 percent, after opening at Rs. 3,745 against the previous closing price of Rs. 3,755. It touched the intra-day low of Rs. 3,730 till the trading.

Gold futures ended higher: MCX Gold Updates Of 04.05.2015

Precious Metals

GOLD
Gold futures ended higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal as a weaker dollar boosted the demand for the precious metal as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies, thus bolstering demand. Further, the US Federal Reserve stuck to its record low interest rate policy stance amid slowing growth in the world’s biggest economy, bolstering the appeal of the bullion as a store of value. The Fed re-iterated that it will undertake a maiden US interest rate lift-off since 2006, only when it sees improvement in the labour market while it saw inflation moving back to the 2 percent goal gradually. With the economy barely growing in Q1 and consumer spending & job gains slowing, analysts have pared back expectations of an initial rate rise to September from June earlier. Gold may extend gains today amid dimming expectations of a near-term US rate hike. At the MCX Gold futures for June 2015 contract closed at Rs 27,238 per 10 gram, up by 0.18 percent after opening at Rs 27,123, against the previous closing price of Rs 27,190. It touched the intra-day high of Rs 27,274 till the closing.

MCX Base Metals & Energy Latest News Of 01/05/2015

COPPER
Copper prices rose by 0.32 percent at the domestic markets after Housing starts in Japan rose more-than-expected in the last quarter signaling an improving housing market in Japan which raised the demand outlook for the metal. In a report, Ministry of Land, Infrastructure and Transport said that Japanese Housing Starts rose to a seasonally adjusted 0.7 percent, from -3.1 percent in the preceding quarter. At the MCX copper futures for April 2015 contract were trading at Rs.391.85 per 1 kg, up by 0.32 percent, after opening at Rs. 391.45 against the previous closing price of Rs. 390.60. It touched the intra-day high of Rs. 392.50 till the trading.

CRUDE OIL
Crude oil prices dipped on Thursday with investors awaiting stronger demand signals across the globe as central banks lean to easier policies. The Federal Reserve, kept interest rates at its current level following the conclusion of its Federal Open Market Committee meeting, but offered little clear language on the timing of its first rate hike in nearly a decade. At the MCX crude oil futures for May 2015 contract were trading at Rs. 3,735 per barrel, down by 0.53 percent, after opening at Rs. 3,745 against the previous closing price of Rs. 3,755. It touched the intra-day low of Rs. 3,730 till the trading.

MCX Gold Silver Latest News of 01/05/2015

Precious Metals

GOLD
Gold prices eased on Thursday even as the U.S. Federal Reserve vaguely hinted that a widely expected rate hike this year won't happen in June. The Federal Reserve, as expected kept interest rates at its current level following the conclusion of its Federal Open Market Committee meeting, but offered little clear language on the timing of its first rate hike in nearly a decade. At the MCX Gold futures for June 2015 contract was trading at Rs 27,170 per 10 gram, down by 0.25 percent after opening at Rs 27,160, against the previous closing price of Rs 27,238. It touched the intra-day low of Rs 27,100 till the trading.
 

SILVER
Silver futures were trading lower in the domestic market on Thursday as investors and speculators exited positions in the precious metal after the US Federal Reserve sounded optimistic over the outlook for the world’s biggest economy despite the first quarter slowdown that was mainly pinned down to “transitory factors”, leaving the door open for an initial rate lift-off later this year, dimming the appeal of the bullion as a store of value. The Fed stressed that it expects the economy to pick up following a Q1 standstill and that inflation will gradually move back to the 2 percent goal. At the MCX Silver futures for May 2015 contract is trading at Rs 37,421 per 1 kg, down by 0.78 percent after opening at Rs 37,350, against the previous closing price of Rs 37,714. It touched the intra-day low of Rs 37,270.

Today's NCDEX Agro News Of 30/04/2015

Agro Outlook

CHANA
Chana prices closed lower by 0.05 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX chana futures for May 2015 contract closed at Rs. 4,205 per quintal, down by 0.05 percent, after opening at Rs. 4,210 against the previous closing price of Rs. 4,207. It touched the intra-day low of Rs. 4,185.

CASTOR SEED
Castor seed futures rose on the National Commodity & Derivatives Exchange Limited (NCDEX) as speculators enlarged their positions, tracking a firm trend at spot market on strong retailers and export demand. At the NCDEX, castor seed futures for May 2015 contract were trading at Rs. 3,733 per quintal tonnes, up by 0.13 percent, after opening at Rs. 3,729 against the previous closing price of Rs. 3,728. It touched the intra-day high of Rs. 3,744 till the trading. Besides, expectation of improving demands from paint and lubrication industries also supported the upside. Castor is a non-edible oilseed crop; basically a cash crop, with average 46 percent oil recovery.

MCX Gold futures ended higher: MCX Gold Updates Of 30/04/2015

Precious Metals

GOLD
Gold futures ended higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal as a weaker dollar boosted the demand for the precious metal as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies, thus bolstering demand. Further, the US Federal Reserve stuck to its record low interest rate policy stance amid slowing growth in the world’s biggest economy, bolstering the appeal of the bullion as a store of value. The Fed re-iterated that it will undertake a maiden US interest rate lift-off since 2006, only when it sees improvement in the labour market while it saw inflation moving back to the 2 percent goal gradually. With the economy barely growing in Q1 and consumer spending & job gains slowing, analysts have pared back expectations of an initial rate rise to September from June earlier.

Gold may extend gains today amid dimming expectations of a near-term US rate hike. At the MCX Gold futures for June 2015 contract closed at Rs 27,238 per 10 gram, up by 0.18 percent after opening at Rs 27,123, against the previous closing price of Rs 27,190. It touched the intra-day high of Rs 27,274 till the closing.

MCX Base Metals & Energy Daily News Of 29/04/2015

COPPER
Copper prices fell on Tuesday as investors awaited hints on monetary policy from the Federal Reserve. A recent run of disappointing U.S. economic data dampened optimism over the recovery; fuelling speculation the Fed could delay hiking interest rates until late 2015, instead of tightening midyear. However, Futures remained supported in the midst of speculation policymakers in China will have to introduce further stimulus measures to jumpstart the economy amid lackluster growth. At the MCX copper futures for April 2015 contract were trading at Rs. 385.10 per 1 kg, down by 0.66 percent, after opening at Rs. 386.20 against the previous closing price of Rs. 387.65. It touched the intra-day low of Rs. 384.15 till the trading.

CRUDE OIL
Crude oil prices eased on Tuesday prior to the US industry supply data as well as continued concerns of a wider conflict in Yemen. The American Petroleum Institute reports crude, gasoline and distillate stockpiles for the end of last week later in the day, which will be followed on Wednesday by more closely-watched figures from the US Department of Energy. At the MCX, crude oil futures for May 2015 contract were trading at Rs. 3,586 per barrel, down by 0.69 percent, after opening at Rs. 3,607 against the previous closing price of Rs. 3,611. It touched the intra-day low of Rs. 3,573 till the trading.

MCX GOLD/SILVER DAILY NEWS OF 29.04.2015

Precious Metals

GOLD/SILVER
Gold regained sheen with its price surging by Rs 305 to over 7-week high of Rs 27,355 per 10 grams at the bullion market here today, tracking a firm global trend along with brisk buying by jewellers to meet wedding demand. Silver also spurted by Rs 1,000 to Rs 37,500 per kg on increased offtake by industrial units and coin makers. Bullion traders attributed the sharp rise in gold prices to firm global cues where it rebounded from five-week low. Speculation that the US Federal Bank may wait longer before raising rates weakened the dollar to a seven-week low, boosting demand for gold. Besides, increased buying by jewellers in the local market to meet marriage season demand supported the gains in India. Gold in New York, which normally sets price trend on the domestic front, shot up by 1.80 percent to $1,201.70 an ounce and silver by 4.09 percent to $16.40 an ounce in yesterday's trade. In the national capital, gold of 99.9 percent and 99.5 percent purity spurted by Rs 305 each to Rs 27,355 and Rs 27,205 per 10 grams, respectively, a level last seen on March 2. Sovereign, however, remained steady at Rs 23,700 per piece of eight grams. Following gold, silver ready recorded significant jump of Rs 1,000 to Rs 37,500 per kg and weekly-based delivery by Rs 875 to Rs 37,055 per kg. Silver coins also spurted by Rs 1,000 to Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.

Today's Agro Outlook Update Of 28/04/2015

Agro Outlook

CASTOR SEED
Castor seed prices rose by 0.34 percent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. At the NCDEX, castor seed futures for May 2015 contract were trading at Rs. 3,824 per quintal tonnes, up by 0.34 percent, after opening at Rs. 3,794 against the previous closing price of Rs. 3,811. It touched the intra-day high of Rs. 3,838 till the trading. 

CHANA

Chana prices closed higher 1.44 percent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX chana futures for May 2015 contract closed at Rs. 4,099 per quintal, up by 1.44 percent, after opening at Rs. 4,062 against the previous closing price of Rs. 4,041. It touched the intra-day high of Rs. 4,131.

Gold futures closed lower: Today's MCX Gold Updates Of 28/04/2015

Precious Metals

GOLD
Gold futures closed lower in the domestic and overseas market on Friday as investors and speculators exited positions in the precious metal as a record rally in US stocks dampened the demand for the yellow metal as an alternative asset. Meanwhile, caution ahead of the US Federal Reserve’s two-day meet beginning this Tuesday which may offer fresh cues over the timing of a maiden US interest rate hike since 2006 also weighed on sentiment. Gold tends to benefit from ultra loose monetary policies by global central banks. Investors weighed a mixed US factory report which showed a rebound in durable goods orders in March but softness in capital spending. However, a weaker dollar boosted the demand for the bullion as an alternative asset, trimming losses in gold futures. Weaker greenback makes gold cheaper for those holding other currencies, thus boosting demand. Gold may remain lower today amid caution ahead of FOMC meet this week. At the MCX Gold futures for June 2015 contract closed at Rs 26,701 per 10 gram, down by 0.74 percent after opening at Rs 26,867, against the previous closing price of Rs 26,900. It touched the intra-day low of Rs 26,630 till the closing.

Base Metals & Energy Tips Of 27.04.2015

Base Metals & Energy 

COPPER
Copper prices rose by 1.55 percent on Friday at the domestic markets after Germany’s Ifo business climate rose more-than-expected last month signaling improving sentiment in the region which raised the demand outlook for the metal. In a report, the Ifo Institute for Economic Research said its index of German business climate rose to 108.6, from 107.9 in the preceding month. At the MCX copper futures for April 2015 contract were trading at Rs.382.80 per 1 kg, up by 1.55 percent, after opening at Rs. 376.30 against the previous closing price of Rs. 376.95. It touched the intra-day high of Rs. 383.35 till the trading. However, gains were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 950 metric tonnes to 337675 metric tonnes as on April 25, 2015.
 

CRUDE OIL
Crude oil prices fell by 0.76 percent on Friday at the domestic markets as investors watch the supply/demand balance plays out that pits bulging inventories against efforts to curb production. Recent data showed that U.S. crude inventories rose far more than expected last week and as market participants continued to focus on developments in Yemen Saudia Arabia resumed air strikes on Houthi-targets in the city of Aden on Wednesday despite increased calls from the White House for a diplomatic solution to the month-long conflict. At the MCX, crude oil futures for April 2015 contract were trading at Rs. 3,660 per barrel, down by 0.76 percent, after opening at Rs. 3,670 against the previous closing price of Rs. 3,688. It touched the intra-day high of Rs. 3,670 till the trading.

MCX GOLD DAILY COMMODITY REPORT OF 27.04.2015

Precious Metals

GOLD
Gold futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as a tumbling US dollar boosted the appeal of the bullion as an alternative asset. Stronger greenback makes gold cheaper for those holding other currencies, thus bolstering demand. Disappointing US factory, housing and labour market data signaled softness in the world’s biggest economy, boosting the case for the Federal Reserve to delay monetary tightening, and bolstering the lure for gold as a store of value. Thursday’s economic releases showed an uptick in US jobless claims last week, a drop in new home sales in March and slower gains in manufacturing in April. Gold may trade on a subdued note today as investors stay cautious ahead of US durable goods orders data which will offer further cues over the economy’s health. At the MCX Gold futures for June 2015 contract closed at Rs 26,900 per 10 gram, up by 2.58 percent after opening at Rs 26,640, against the previous closing price of Rs 26,624. It touched the intra-day high of Rs 26,917 till the closing.

MCX-NCDEX COMMODITY WEEKLY REPORT OF 27.04.2015

Base Metals

LEAD
Lead prices rose by 1.17 percent on Friday at the domestic markets due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 3900 metric tonnes to 183975 metric tonnes as on April 25, 2015. At the MCX, Lead futures, for the April 2015 contract, is trading at Rs 130.25 per kg, up by 1.17 percent, after opening at Rs 128.90, against a previous close of Rs 128.75. It touched an intra-day high of Rs 130.45 till the trading. (At 3.30 PM today) Sentiment improved further as a result of high demand for the commodity from battery-maker in the spot market in the midst of strong overseas trend.

Agro Outlook

JEERA
Jeera prices closed lower by 0.3 percent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX jeera futures for May 2015 contract closed at Rs. 18,405 per quintal, down by 0.3 percent, after opening at Rs. 18,400 against the previous closing price of Rs. 18,460. It touched the intra-day low of Rs. 18,260. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.

GOLD/SILVER WEEKLY COMMODITY REPORT OF 27.04.2015

Precious Metals

GOLD/SILVER
Gold prices recovered by Rs 100 to trade at Rs 27,200 per 10 gm at the bullion market on the back of buying by jewellers, driven by wedding season amid a firm global trend. Moreover, weakness in the rupee also influenced prices. Silver also rebounded by Rs 160 to Rs 36,600 per kg on increased offtake by industrial units and coin makers. Traders said fresh buying by jewellers to meet wedding season demand and a firm global trend mainly attributed the recovery in gold prices. Besides, weakness in the rupee that made imports costlier also influenced the precious metal prices. Meanwhile, rupee was trading 25 paise lower at Rs 63.10 (intraday) at the forex market against the US dollar. Gold in New York, which normally sets price trend in the domestic market, rose by 0.50 percent to USD 1,201.80 an ounce and silver by 0.25 percent to USD 15.98 an ounce in yesterday's trade. In the national capital, gold of 99.9 and 99.5 percent purity recovered by Rs 100 each to Rs 27,200 and Rs 27,050 per 10 gm, respectively. It had lost Rs 100 yesterday. Sovereign, however, continued to be traded at last level of Rs 23,700 per piece of eight gram in -limited deals. Tracking gold, silver ready rose by 160 to Rs 36,600 per kg and weekly-based delivery by Rs 60 to Rs 36,185 per kg. On the other hand, silver coins remained steady at Rs 55,000 for buying and Rs 56,000 for selling of 100 pieces.

COMMODITY NEWS: CRUDE OIL PRICES FELL BY 1.75 PERCENT

DATE: 23/04/2015

Base Metals & Energy

CRUDE OIL
Crude oil prices fell by 1.75 percent on Wednesday at the domestic markets after industry data on U.S. stockpiles showed solid builds across categories indicating that the demand for the commodity in US, world’s largest crude oil consumer is weak. The American Petroleum Institute said crude oil stocks rose by 5.5 million barrels last week, while distillate inventories gained 1.7 million barrels and gasoline supplies increased by 1.1 million barrels. At the MCX, crude oil futures for May 2015 contract were trading at Rs. 3,530 per barrel, down by 1.75 percent, after opening at Rs. 3,580 against the previous closing price of Rs. 3,593. It touched the intra-day low of Rs. 3,520 till the trading.

Agro Outlook

CASTOR SEED
Castor seed prices fell by 0.14 percent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for May 2014 contract was trading at Rs. 3,655 per quintal tonnes, down by 0.14 percent, after opening at Rs. 3,655 against the previous closing price of Rs. 3,660. It touched the intra-day low of Rs. 3,635 till the trading.

TODAY'S COMMODITY NEWS: MCX GOLD FUTURES ENDED HIGHER

DATE: 23/04/2015

Precious Metals

GOLD
Gold futures ended higher in the domestic and overseas market on Tuesday as investors and speculators booked fresh positions in the precious metal as a weaker dollar boosted the appeal of the precious metal as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies, thus bolstering demand. Further, lingering worries over Greece’s possible exit from the Euro area and elections in the UK next month amid fears that the country may head for referendum over its EU membership bolstered safe haven demand for the bullion. A media report emerged that the European Central Bank was pondering restricting funding to Greek banks, a move that could push Greece closer to a catastrophic default. Gold futures may trade on a steady note today ahead of key US housing data which will offer further cues over the health of the world’s biggest economy. At the MCX Gold futures for June 2015 contract closed at Rs 26,936 per 10 gram, up by 0.37 percent after opening at Rs 26,880, against the previous closing price of Rs 26,837. It touched the intra-day high of Rs 26,950 till the closing.