Daily Commodity Report as on Thursday, September 29, Date : Thursday, September 29, 2016 URL :

Transcription

1 Daily Commodity Report as on Thursday, September 29, 2016 Date : Thursday, September 29, 2016 URL : Page No - 1

2 Open High Low Close % Cng OI Precious Metals Gold Silver Base Metal Alum Copper Lead Nickel Zinc Energy Crude Nat. Gas Market Round up Gold prices dropped as the dollar firmed and investors assessed Federal Reserve Chair Janet Yellen's testimony before a Congressional committee. Silver rose as Fed Chair Janet Yellen avoided a hard timeline for a rate hike, though a colleague did suggest the topic was up for discussion in November. Crude surged to settled up amid speculation that OPEC will soon agree to curb production. Copper prices ended with gains as sentiments improved due to the release of better-than-expected economic data from China. Zinc prices gained as support seen after stocks and cancelled warrants both fell 825 tonnes to 440,650 tonnes and 27,875 tonnes respectively. Spices Cardamom Turmeric Jeera Dhaniya Cereals Wheat Oil and Oilseeds & Others Soyabean Ref. Oil CPO RMSeed Menthol Cotton Nickel gained after the Philippines said 20 more mines may be suspended for environmental violations, threatening supply. Naturalgas prices fell on expectations that demand for the fuel would decline as temperatures cool. Ref soyoil prices ended with losses on fear of lower demand after the government cut import duty. Mentha oil prices ended with gains amid a surge in physical demand for mentha oil in the domestic spot market. Soyabean prices gained due to supply worries in domestic market following report of lower acreages and on improved demand in export market Chana prices dropped on profit booking amid government initiatives to check rising prices and availability of pulses Currency USDINR EURINR GBPINR JPYINR Turmeric prices pared gains amid profit booking after prices gained due to upsurge in demand at the spot market. Jeera prices gained on expectation of pickup in export demand at the spot market. Date : Thursday, September 29, 2016 URL : Page No - 2

3 MCX Gold Oct 2016 OPEN SUP Gold trading range for the day is HIGH SUP LOW P.P CLOSE RES Gold prices dropped as the dollar firmed and investors assessed Federal Reserve Chair Janet Yellen's testimony before a Congressional committee. The Fed is considering changing the annual stress tests it gives to U.S. banks to see if they can withstand a massive financial crisis, Yellen said. ECB rejected German criticism that sub-zero interest rates were impoverishing savers and straining top lender Deutsche Bank % CNG RES SELL GOLD SL TGT MCX Gold on MCX settled down -0.07% at as trades were flat and Fed speeches offered little guidance on interest rates. Fed Chair Janet Yellen confined her remarks before Congress to issues related to bank regulation. Yellen didn t say much about monetary policy during her testimony before the House Financial Services Committee, but several Fed officials were slated to make remarks this week, which could have implications for currency and stock market trading and influence demand for precious metals. Yellen on Wednesday didn t appear to offer any cues on the central bank s monetary policy. She said, however, the financial condition of the top U.S. banks has strengthened considerably since the financial crisis. Yesterday the dollar index fell 0.1 percent to After the Federal Reserve is considering changing the annual stress tests it gives to U.S. banks to see if they can withstand a massive financial crisis, Yellen said. The Fed's chair did not comment on the outlook for the economy or monetary policy in her prepared remarks. Also Chicago Fed President Charles Evans said that raising rates because of financial stability concerns could leave the US central bank less able to reach its inflation target. New orders for non-military U.S. capital goods other than aircraft rose for a third straight month in August, a positive signal for the business investment outlook. From physical side holdings of the SPDR Gold Trust fell 0.22 percent to tonnes on Tuesday. While according the Census and Statistics Department of the Hong Kong government reported that China imported 50.5 tons of gold on a net basis from Hong Kong last month. Technically market is getting support at and below same could see a test of level, And resistance is now likely to be seen at 31040, a move above could see prices testing MCX Silver Dec 2016 OPEN SUP Silver trading range for the day is HIGH SUP LOW P.P CLOSE RES % CNG 0.20 RES Silver rose as Fed Chair Janet Yellen avoided a hard timeline for a rate hike, though a colleague did suggest the topic was up for discussion in November. Fed s Evans said that raising rates because of financial stability concerns could leave the U.S. central bank less able to reach its inflation target. Holdings at ishares silver trust dropped by 0.44% i.e tonnes to tonnes from tonnes. SELL SILVER SL TGT MCX Silver on MCX settled up 0.2% at traded in the range after prices fell more than 1.5 percent in the previous session, its biggest one-day loss in nearly three weeks, strength in the U.S. dollar and as investors assessed Federal Reserve Chair Janet Yellen's testimony before a congressional committee. Yellen was thrust into the election-year boxing ring during the hearing, defending the central bank's regulatory role and considering changing the annual stress tests it gives to U.S. banks to see if they can withstand a massive financial crisis. Meanwhile, Chicago Fed President Charles Evans said that raising rates because of financial stability concerns could leave the U.S. central bank less able to reach its inflation target. Sentiments improved for Silver outlook after the report from CME Group website that the Dec contract shows traders are betting the price of silver will rise to over $20 an ounce. Since the start of the year, ishares Silver Trust ETF seeks to reflect the performance of the price of silver before payment of its expenses and liabilities, has gained 40.5% this year. Foreign buyers are also part of the reason that the price of silver has performed so well in Chinese buyers have been actively buying silver future contracts, due in part to continued easing monetary policy around the globe. Also ETF demand for silver remains solid ETF investors have bought about 210 tonnes this month after 347 tonnes in August. ETF holdings are at an all-time high, suggesting that investor interest remains bright. Technically now Silver is getting support at and below same could see a test of level, And resistance is now likely to be seen at 45778, a move above could see prices testing Date : Thursday, September 29, 2016 URL : Page No - 3

4 MCX Crudeoil Oct 2016 OPEN 2980 SUP Crudeoil trading range for the day is HIGH 3070 SUP LOW 2963 P.P CLOSE 3061 RES Crude surged to settled up amid speculation that OPEC will soon agree to curb production. OPEC agreed to production curbs under a formula to cut output to a range of 32.5mbls to 33mbpd from 33.4mbls. EIA showed crude inventories fell by 1.9mbls in the week to Sept. 23, while Gasoline stocks rose by 2mbls. % CNG 2.89 RES BUY CRUDE OIL OCT ABV 3100 SL 3060 TGT MCX Crudeoil on MCX settled up 2.89% at 3061 recovered from the previous day's fall as support seen from Nymex Crude oil which surged to their highest in almost three weeks to settled at $47.05/bbl up amid speculation that OPEC will soon agree to curb production. While details are not expected until the official OPEC meeting on November 30. But Russia has already said they will go along with the plan. OPEC surprised markets Wednesday and agreed to production curbs under a formula to cut output to a range of 32.5mbls to 33mbls of oil per day from 33.4 million. Under the terms, Saudi is expected to cut output by 350,000 barrels a day, according to reports. Details on curbs by other producer wee not available, but three countries are exempted from the production cuts: Iran, Nigeria and Libya. Economic sanctions were lifted on Iran earlier this year, and Libya and Nigeria have had some of their oil facilities damaged by terrorist attacks in recent months. OPEC members at the IEF in Algeria were not widely expected to reach a deal after an attempt to jointly freeze production levels earlier this year failed over Iran's refusal to take part of the initiative, underscoring the difficulty for political rivals to forge consensus. Yesterday US crude inventories fell by 1.9mbls in the week to Sept. 23, compared with expectations for an increase of 3mbls, data from the EIA showed. While Gasoline stocks rose by 2mbls, far more than the gain of 178,000 barrels against the expectation. Technically market is under short covering and getting support at 2992 and below same could see a test of 2924 level, And resistance is now likely to be seen at 3099, a move above could see prices testing MCX Copper Nov 2016 OPEN SUP Copper trading range for the day is HIGH SUP LOW P.P CLOSE RES % CNG 0.62 RES Copper prices ended with gains as sentiments improved due to the release of better-thanexpected economic data from China. According to data ICSG, the refined copper balance in 1H16 was a deficit of 306,000 metric tons. Inventories tracked by the LME expanded to the highest since December 2013 amid increases in Asia. BUY COPPER NOV ABV SL 323 TGT MCX Copper on MCX settled up 0.62% at tracking LME copper which edged up 0.8 percent to $4,857 a tonne as other basemetals like Nickel, Lead and Zinc rallied sharply on supply risks from top ore exporter Philippines. Nickel gained on both LME and Shanghai, still supported by supply risks after the Philippines said it may suspend 20 more mines for environmental infractions. The Philippines, which accounts for nearly a quarter of the world's nickel mined supply, has already halted 10 mines, eight of them nickel producers. Support also seen after China s new construction starts rose 12.2% YoY in the first eight months of 2016 after falling steadily for two years. However, the growth rate fell compared to the first seven months of the year. Although Chinese real estate activity has slowed down, the country s car sales are still going strong. While upside was capped as strength in the U.S. dollar seen and as investors assessed Federal Reserve Chair Janet Yellen's testimony before a congressional committee. Yellen was thrust into the election-year boxing ring during the hearing, defending the central bank's regulatory role and considering changing the annual stress tests it gives to U.S. banks to see if they can withstand a massive financial crisis. Technically market is under short covering as market has witnessed drop in open interest by -1.92% to settled at while prices up 2 rupee, now Copper is getting support at and below same could see a test of level, And resistance is now likely to be seen at 325.7, a move above could see prices testing Date : Thursday, September 29, 2016 URL : Page No - 4

5 MCX Zinc Sep 2016 OPEN SUP Zinc trading range for the day is HIGH SUP LOW P.P CLOSE RES Zinc prices gained as support seen after stocks and cancelled warrants both fell 825 tonnes to 440,650 tonnes and 27,875 tonnes respectively. Nyrstar will restart its Tennessee zinc mine, with output at its full capacity of 50,000 tonnes per year expected by November Zinc has surged 44 percent this year, the best metals performer of 2016, amid tightness in supply due to mine depletion and closures. % CNG 1.24 RES BUY ZINC SL 153 TGT MCX Zinc on MCX settled up 1.24% at 155 as LME zinc finished 0.6 percent stronger at $2,333 as support seen from sister metal Lead which climbed to the highest since May last year amid worries over tighter supply in top market China and elsewhere, while nickel held near seven-week highs on similar supply risks from top ore exporter Philippines. Global mine shutdowns over the past year and moves by lead producers to curb output amid low prices have tightened global supply of the metal used to make batteries. Yu is looking at a global deficit in lead concentrate of 146,000 tonnes this year and a deficit of 29,000 tonnes in China. That compared to last year's surplus of 117,000 tonnes in China and 157,000 tonnes globally, she said. The upcoming winter is usually a high season for battery replacement since extreme cold weather typically causes failures. While upside was capped as strength in the U.S. dollar seen and as investors assessed Federal Reserve Chair Janet Yellen's testimony before a congressional committee. Yellen was thrust into the election-year boxing ring during the hearing, defending the central bank's regulatory role and considering changing the annual stress tests it gives to U.S. banks to see if they can withstand a massive financial crisis. Technically market is under short covering as market has witnessed drop in open interest by -0.24% to settled at 6933 while prices up 1.9 rupee, now Zinc is getting support at and below same could see a test of level, And resistance is now likely to be seen at 156, a move above could see prices testing MCX Nickel Sep 2016 OPEN SUP Nickel trading range for the day is HIGH SUP LOW P.P CLOSE RES % CNG 0.60 RES Nickel gained after the Philippines said 20 more mines may be suspended for environmental violations, threatening supply. Suspending another 20 would leave only 11 operating mines in the Southeast Asian country, accounting for nearly a quarter of world's supply. Goldman Sachs estimate about 223,000 tonnes of nickel output or 11 percent of global supply could be suspended. BUY NICKEL SEPT ABV 712 SL 702 TGT MCX Nickel on MCX settled up 0.6% at gained supported by supply risks after the Philippines said on Tuesday it may suspend 20 more mines for environmental infractions. The Philippines decision to suspend half of its mining operations for failing to meet environmental standards boosted nickel prices on Tuesday, signalling a further recovery in its fortunes after it hit a 13-year low earlier this year. The metal, used to make stainless steel, jumped 2 per cent on the London Metal Exchange to $10,705 a tonne after the Philippines ordered the suspension of 20 mines in the country for failing to meet environmental regulations. LME nickel rose 0.8 percent to $10,785 a tonne, not far below Tuesday's seven-week top of $10,900. Shanghai nickel touched a seven-week high of 83,610 yuan a tonne. As per market expert the disruption from the Philippines to the global market may be limited to between 15,000 to 20,000 tonnes of nickel ore given the upcoming monsoon season which limits mining and shipments there. Global nickel supply is seen at 1.9 million tonnes this year. While upside was capped as strength in the U.S. dollar seen and as investors assessed Federal Reserve Chair Janet Yellen's testimony before a congressional committee. Yellen was thrust into the election-year boxing ring during the hearing, defending the central bank's regulatory role and considering changing the annual stress tests it gives to U.S. banks to see if they can withstand a massive financial crisis. Technically market is under short covering as market has witnessed drop in open interest by -5.3% to settled at 9486 while prices up 4.2 rupee, now Nickel is getting support at and below same could see a test of level, And resistance is now likely to be seen at 712.3, a move above could see prices testing Date : Thursday, September 29, 2016 URL : Page No - 5

6 NCDEX Jeera Oct 2016 OPEN SUP Jeera trading range for the day is HIGH SUP LOW P.P Jeera prices gained on expectation of pickup in export demand at the spot market. Jeera prices further improved on reports of lower output in other major producing countries-syria and Turkey. CLOSE RES NCDEX accredited warehouses jeera stocks dropped by 101 tonnes to 3975 tonnes. % CNG 1.36 RES BUY JEERA SL TGT NCDEX Jeera on NCDEX settled up by 1.36% at on expectation of pickup in export demand at the spot market. Jeera further improved on reports of lower output in other major producing countries-syria and Turkey. Prices also looks to remain supported following poor supplies due to fag-end of the season and hopes of good export demand. Reports of lower output in other producing countries, Turkey and Syria will help the Indian exporters to clinch more export deals. Expectations of good demand for the coming festive season may also support the upward price trend. In , the output of jeera is seen falling in other major producers Syria and Turkey to 10,000 ton and 12,000 ton respectively from 15,000 ton and 17,000 ton in As per market source, India is likely to export 40,000-45,000 ton more jeera in coming months. As per fourth advance estimate of Gujarat State for , jeera production is pegged at 238,000 ton as against 197,000 ton a year ago. However, it is much lower than output when the state produced 346,000 ton jeera. At Unjha market in Mehsana sources reported arrivals at 1200 quintals, up by 200 quintals as compared to previous day. At Rajkot market in Rajkot(Guj.), estimated market supply was at 190 quintal, up by 80 quintal from previous trading day. At Gondal(Guj.) market in Rajkot(Guj.), total arrivals are at 100 quintals, down by 50 quintals as compared to previous day. In Unjha, a key spot market in Gujarat, jeera edged up by rupees to end at rupee per 100 kg.technically now Jeera is getting support at and below same could see a test of level, And resistance is now likely to be seen at 17570, a move above could see prices testing NCDEX Turmeric Oct 2016 OPEN 7170 SUP Turmeric trading range for the day is HIGH 7234 SUP LOW 7032 P.P CLOSE 7096 RES Turmeric prices pared gains amid profit booking after prices gained due to upsurge in demand at the spot market. However downside seen limited amid poor arrivals due to rainfall in the producing belts of Maharashtra, Andhra Pradesh and Tamil Nadu. NCDEX accredited warehouses turmeric stocks dropped by 40 tonnes to 5744 tonnes. % CNG RES BUY TURMERIC 7000 SL 6880 TGT NCDEX Turmeric on NCDEX settled down by -0.53% at 7096 amid profit booking after prices gained due to upsurge in demand at the spot market. However downside seen limited amid poor arrivals due to rainfall in the producing belts of Maharashtra, Andhra Pradesh and Tamil Nadu. India's turmeric output in (Jul-Jun) is expected to rise because of better rainfall this season in key growing areas such as Maharashtra, Telangana, Karnataka and Tamil Nadu, report added. Traders are expecting turmeric production in Maharashtra to be around million bags (Each bag of 70 kgs) as against million bags in the previous year. According to Andhra Pradesh Agriculture Department, area under turmeric in the state as of Sep 21 stood lower at 14,304 hectares against 15,405 hectares last year. Sowing has also increased in other producing states such as Maharashtra, Odisha and Karnataka. Turmeric production for the current crop year ( ) is estimated to be around 315,000 tons compared to the previous year production of 324,000 tons. India's Apr-Jun turmeric export jumped 20% to 29,000 tons due to increase shipment to gulf countries. Only low and medium quality turmeric arrived for sale. The traders wanted to buy high quality hybrid turmeric but for want of such arrival they purchased medium quality turmeric for their local demand. In Nizamabad, a major spot market in AP, the price ended at rupees gained rupees.technically market is under long liquidation as market has witnessed drop in open interest by -0.69% to settled at while prices down -38 rupee, now Turmeric is getting support at 7006 and below same could see a test of 6918 level, And resistance is now likely to be seen at 7208, a move above could see prices testing Date : Thursday, September 29, 2016 URL : Page No - 6

7 MCX Menthaoil Oct 2016 OPEN SUP Menthaoil trading range for the day is HIGH SUP LOW P.P CLOSE RES % CNG 0.79 RES Mentha oil spot at Sambhal closed at per 1kg. Spot prices is up by Rs.0.80/-. Mentha oil prices ended with gains amid a surge in physical demand for mentha oil in the domestic spot market. Besides, insufficient stocks position on restricted supplies from producing regions also added support to prices. BUY MENTHA OIL OCT ABV SL BELOW 862 TGT MCX (BTST) Mentha oil on MCX settled up by 0.79% at amid a surge in physical demand for mentha oil in the domestic spot market. Besides, insufficient stocks position on restricted supplies from producing regions also added support to mentha oil prices uptrend. China and Japan have reduced their buying quantity in the recent past due to the economic slowdown had impacted Mint product's exports which declined substantially from the export basket by 18% in terms of volume and 4% in terms of value year-on-year. Exports of mint products stood at 21,150 tonne in FY16 valued at RS. 2, crore against 25,750 tonne valued at RS. 2, crore in FY15. Initially, India s mentha oil output was estimated to remain lower this year from 32,000 tonnes produced during last year. But, rainfalls later improved overall scenario that got worsened with scorching heat waves in May. Hence, overall mentha oil output for is now revised upwards at 32,000 tonnes. At Bareilly market, sources reported arrivals at 1 Drums(1-drum-180kg), unchanged as compared to previous day s arrival. At Chandausi sources reported arrivals at 10 Drums(1-drum-180kg), steady as against previous day s arrival. At Sambhal market arrivals were reported at 150 Drums (1-drum=180kg), steady as against previous day s arrival. At Barabanki market sources reported arrivals at 350 Drums (1-drum-180kg), up by 50 Drums (1-drum-180kg) as compared to previous day. Mentha oil spot at Sambhal closed at per 1kg. Spot prices is remain unchangeby Rs.0.00/-.Technically market is under short covering as market has witnessed drop in open interest by -1.7% to settled at 4865 while prices up 6.8 rupee, now Menthaoil is getting support at and below same could see a test of level, And resistance is now likely to be seen at 875.6, a move above could see prices testing DAILY MARKET LEVEL FOR METAL AND ENERGY COMMODITIES GOLD SILVER CRUDE NAT.GAS COPPER ZINC NICKEL ALUMINUM CLOSE RESISTANCE P. POINT SUPPORT OI TREND Negative Positive Positive Negative Positive Positive Positive Positive LEAD Positive SPREAD Date : Thursday, September 29, 2016 URL : Page No - 7

8 NEWS YOU CAN USE DAY TIME ZONE ECONOMICAL DATA EXP PREV The Philippines has ordered the suspension of 20 more mines for environmental violations, most of them nickel producers, a government official said. Worries of tighter supply from the world's top nickel ore exporter - where 10 mines have already been shuttered as part of an audit launched on July 8 and completed last month - helped global prices of the metal recover from the day's lows. If those recommended for suspension are eventually halted, it would bring to 30 the total number of mines closed in the Southeast Asian nation, 18 of them nickel producers that account for more than half of the country's total nickel ore output based on last year's production. Each miner that was ordered suspended "will be given a report and then they will have to explain their violations", Environment and Natural Resources Undersecretary Leo Jasareno told a news briefing. Among those ordered suspended are OceanaGold Corp, the top gold producer in the Philippines. Shares of the Australia-listed miner fell 8.2 percent on the news, prompting the firm to request for a trading halt pending an announcement. The crackdown on the Philippines' mining sector has been led by Environment and Natural Resources Secretary Regina Lopez, an environmentalist who thinks open-pit mining is "madness". Thu All Day EUR German Prelim CPI m/m :30pm EUR Spanish Flash CPI y/y :25pm EUR German Unemployment Change -5K -7K Tentative EUR Italian 10-y Bond Auction :00pm USD Final GDP q/q :00pm USD Unemployment Claims 260K 252K 6:00pm USD Final GDP Price Index q/q :00pm USD Goods Trade Balance -62.6B -59.3B 7:30pm USD FOMC Member Powell Speaks 0 0 7:30pm USD Pending Home Sales m/m :00pm USD Natural Gas Storage 56B 52B China's economy is expected to grow at an annual 6.6 percent in the fourth quarter and post overall growth of 6.7 percent for the full year, the China Academy of Social Sciences (CASS) said. The predictions by CASS, a top think-tank that advises the government, were published by the official Shanghai Securities Journal newspaper on Wednesday, and were line with the government's own fullyear forecasts of percent growth. "Economic growth in the fourth quarter is likely to fall slightly but within a normal and stable range," the newspaper quoted Wang Hongju, a senior researcher at CASS, as saying. "We should, as long as there's stable local demand, continue supply-side reform, strengthen the sustainability of economic development, and resolve hidden risks in the economy to keep the economy going at a reasonable pace," he said. China announced a target range for GDP growth for the first time this year, indicating that the country is on track for its slowest growth since CASS said fourth-quarter growth would be affected by the government-directed clean up of excess capacity and debt, while traditionally strong growth drivers such as infrastructure, property and private investment faced downward pressure. China's economy was less healthy in the third quarter than a recent spate of upbeat data suggest, with growth coming exclusively from manufacturing and property while the services and retail sectors faltered, a private survey showed. Manufacturing posted its fastest expansion nationally, with 53 percent of companies seeing revenue gains, up 3 percent from a year earlier, a quarterly survey of more than 3,100 firms by China Beige Book International (CBB) showed. While a government infrastructure building spree and housing boom have given a much needed boost to "old economy" firms from steel mills to cement makers, CBB noted foreign orders had also improved. Services slowed and retail firms experienced one of their weakest performances in the history of the survey as e-commerce firms gobbled up more market share. Official data for August raised hopes the economy was stabilising and perhaps even picking up, with industrial output, retail sales and property investment all quickening more than expected, while industrial profits grew at the strongest pace in three years. But while the property sector showed another quarter of strong growth, there are signs that China's real estate boom is starting to stutter, the CBB report said. Kharif cotton crop is likely to be at the same level as that of last year, the Cotton Association of India (CAI) said. The trade body has retained the cotton crop estimates for the year season at 336 lakh bales (of 170 kg each). The cotton crop estimates released for August is unchanged against the previous month. As per CAI data, for the year , cotton crop was a tad higher at lakh bales. We are maintaining the crop at the same level as that of last year. There is a decline in acreage of about 10 per cent but the same is likely to be offset by higher yield. Therefore, we have put the estimate at 336 lakh bales, said Dhiren Sheth, president, CAI. The projected balance sheet drawn by CAI estimated total cotton supply for the cotton season at 398 lakh bales, while the domestic consumption is estimated at 309 lakh bales thus leaving an available surplus of 89 lakh bales. The association has estimated cotton crop in Gujarat and Maharashtra to be almost neck-toneck, at 88 lakh bales and 87 lakh bales, respectively. Incessant to heavy rains for over the past week have caused extensive damage to crops in Telangana, Andhra Pradesh and parts of North Eastern Karnataka. Initial estimates have pegged the crop losses on about five lakh hectares in these three States. While 1.5 lakh hectares of crop was damaged in Telangana, about one lakh hectares of crop was damaged in Andhra Pradesh, impacting paddy, cotton, redgram and maize. Though the rains have hit almost all of the districts of Telangana, Warangal, Nizamabad, Karimnagar and Ranga Reddy districts bore the brunt of the fury. Telangana has formed nine teams to assess the extent of the damage in the State. Telangana Chief Minister K Chandrasekhara Rao, however, expressed hope that there was no instance of crops being washed away by flood waters. It s only water logging. Once flood water recedes, there will be no damage to crops, he said, after taking stock of the situation. Though kharif crops have been hit, the government is happy because all the irrigation projects is fully of water that will come handy for the upcoming rabi season. Excess rains over past few days in Telangana, AP and other regions have largely reduced the cumulative monsoon deficit to around 3 per cent from around 7 per cent a week ago. Date : Thursday, September 29, 2016 URL : Page No - 8

9 Date : Thursday, September 29, 2016 URL : Page No - 9