Nifty/BankNifty Levels for 10th Nov

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NIFTY SPOT LEVELS: SUPP 1: 6260, SUPP 2: 6218, RES 1: 6327, RES 2: 6352

BANK NIFTY LEVELS: SUPP 1: 13048, SUPP 2: 12903, RES 1: 13286, RES 2: 13380

Silver futures cross Rs 41,000 per kg first time ever

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Continuing its record-setting spree, silver futures prices went past Rs 41,000 per kg level for the first time ever today after the white metal surged to a fresh 30-year high in global markets.

A firm trend in the spot market, where it climbed to record levels as well, too, influenced the prices at the futures market here.

At the Multi Commodity Exchange platform, silver for December contract delivery surged by Rs 688, or 1.57 per cent, to a level never seen before at Rs 41,418 per kg, with a business turnover of two lots.

Similarly, the metal for delivery in March contract gained Rs 761, or 1.75 per cent, to trade at record level of Rs 41,684 per kg, with a trade volume of three lots.

Rising demand for the precious metal at domestic bullion markets, also helped silver to cross the psychological mark of Rs 41,000 per kg for the first time in the history of futures market.

Meanwhile, silver futures prices have risen by 0.9 per cent to USD 27.98 an ounce in global markets, the highest level since March 1980.

Market Voice : BSE/NSE

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The market, which traded in the red almost right through the session, ended with notable losses today.

Investors chose to book profits after recent strong gains. A rather subdued display by stocks in Asian and European markets also contributed to the weakness.
The Sensex ended at 20,858 (provisional) with a loss of nearly 150 points.
The Nifty, which very nearly hit a new all-time high on the Muhurat Session, ended lower by 35 points at 6277.

IT, PSU, consumer durables, bank and capital goods stocks traded weak.

Select pharma, realty and metal stocks found fairly good support.

Midcap and smallcap stocks had a lacklustre session.