Mcx Commodity Market News : Morning Session - 10.08.2016
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Oil lower on US supply rise
Date and Time : 10/08/2016 11:01
CRUDEOIL : Down Trend
Crude oil futures fell during late morning trade in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity as the biggest US crude oil build in three months renewed worries over a global supply glut. The industry-funded American Petroleum Institute (API) said that US crude oil stockpiles rose by 2.1 million barrels during the week to August 5, 2016. Markets were expecting a drop of 1 million barrels in US crude oil inventories last week. The EIA will release separate US inventory data on Wednesday. At the MCX, Crude oil futures for August 2016 contract is trading at Rs 2,858 per barrel, down by 0.14 per cent, after opening at Rs 2,860, against a previous close of Rs 2,862. It touched the intra-day low of Rs 2,855. (At 10:56 AM).
Lead futures surge on spot demand
Date and Time : 10/08/2016 10:48
LEAD: Up Trend
Lead futures were trading higher during the morning trade in the domestic market on Wednesday as participants widened their positions in the industrial metal amid a surge in physical demand for lead, from battery-makers, in the domestic spot market. Further, increase in demand from battery-makers in the domestic spot market, supported the prices of lead in the spot markets. At the MCX, Lead futures for August 2016 contract is trading at Rs 121.15 per kg, up by 0.29 per cent, after opening at Rs 120.80, against a previous close of Rs 120.80. It touched the intra-day high of Rs 121.30 (at 10:47 hours).
Aluminium futures up by 0.23% on uptick in demand
Date and Time : 10/08/2016 10:44
ALUMINIUM: Up Trend
Aluminium futures were trading higher during the morning trade in the domestic market on Wednesday as investors and speculators widened their positions amidst boost in physical demand for aluminium in the domestic spot market. At the MCX, aluminium futures for August 2016 contract is trading at Rs 109.85 per kg, up by 0.23 per cent, after opening at Rs 109.65, against a previous close of Rs 109.60. It touched the intra-day high of Rs 109.90 (at 10:36 hours).
Rising demand lifts zinc futures by 0.13%
Date and Time : 10/08/2016 10:41
ZINC: Up Trend
Zinc futures were trading little changed during the morning trade in the domestic market on Wednesday as participants indulged in building up of fresh positions led by an increase in the spot demand from consuming industries at the domestic spot markets. Further, a rise in demand for zinc at the domestic spot market was on account of building up of fresh bets by traders in the spot markets, supported zinc prices at futures trade. At that MCX, zinc futures for August 2016 contract is trading at Rs 152.20 per kg, up by 0.13 per cent, after opening at Rs 152.10, against a previous close of Rs 152. It touched the intra-day high of Rs 152.35 (at 10:36 hours).
Muted demand drags down nickel futures by 0.26%
Date and Time : 10/08/2016 10:36
NICKEL: Up Trend
Nickel futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators trimmed their positions amid a decline in demand from alloy-makers at the domestic spot market. Further, a fall in domestic demand from alloy-makers at the domestic spot markets, influenced the downtrend in nickel prices at futures trade. At the MCX, nickel futures for August 2016 contract is trading at Rs 719.30 per kg, down by 0.26 per cent, after opening at Rs 719.30, against a previous close of Rs 721.20. It touched the intra-day low of Rs 719 (at 10:36 hours).
Mentha oil futures up on pickup in demand
Date and Time : 10/08/2016 10:32
MENTHAOIL: Up Trend
Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday as participants were building fresh positions in the agri-commodity amid an increase in physical demand from major consuming industries for mentha oil in the domestic spot market. Further, the rise in demand for mentha oil futures was attributed to building up of fresh positions by traders amid pickup in demand in the spot market, supported prices of mentha oil at futures trade. At the MCX, mentha oil futures for August 2016 contract were trading at Rs 908.70 per kg, up by 0.38 per cent after opening at Rs 909.50, against the previous closing price of Rs 905.30. It touched the intra-day high of Rs 910.80 (at 10:26 hours).
Cardamom futures gain on rising demand
Date and Time : 10/08/2016 10:28
CARDAMOM: Up Trend
Cardamom futures were trading higher during the morning trade in the domestic market on Wednesday as investors and speculators indulged in fresh buying in the agri-commodity amid a rise in physical demand for cardamom in the domestic spot market. Further, restricted supplies amid insufficient physical arrivals from the major cardamom producing belts in the country supported domestic cardamom prices. At the MCX, cardamom futures for August 2016 contract is trading at Rs 1,005 per kg, up by 0.66 per cent, after opening at Rs 1,005, against a previous close of Rs 998.40. It touched the intra-day high of Rs 1,005 (at 10:26 hours).
Silver up on weak dollar
Date and Time : 10/08/2016 08:51
SILVER: Up Trend
Silver futures closed higher in the domestic market on Tuesday as weakness in the U.S. dollar delivered a boost to the white metal. Technical traders said some short-covering, or buying back borrowed securities to close an open short position, emerged in the futures market to account for some gains. At the MCX, Silver futures for September 2016 contract closed at Rs 46,390, per 1 kg, up by 0.22 per cent after opening at Rs 46,198, against the previous closing price of Rs 46,287. It touched the intra-day high of Rs 46,450.
Crude oil down on global supply glut
Date and Time : 10/08/2016 08:51
CRUDEOIL : Down Trend
Crude oil futures closed lower in the domestic market on Tuesday as traders weighed continued concerns about a global supply glut versus prospects for an agreement by major producers to curb output. Expectations for higher crude demand in the second half of 2016, coupled with a decrease in availability, are leading analysts to conclude the current bear market is temporary and oil prices will rise later in the year. At the MCX, Crude oil futures for August 2016 contract closed at Rs. 2865 per barrel, down by 0.90 per cent, after opening at Rs. 2876, against the previous closing price of Rs. 2891. It touched the intra-day low of Rs. 2848.
Gold rises on weak US dollar
Date and Time : 10/08/2016 08:50
GOLD: Up Trend
Gold futures closed higher in the domestic market on Tuesday as weakness in the U.S. dollar delivered a boost to the yellow metal. Technical traders said some short-covering, or buying back borrowed securities to close an open short position, emerged in the futures market to account for some of Tuesday’s rebound. Gold prices have been subdued since last week’s stronger-than-expected July jobs report pushed down precious metals prices as expectations for a U.S. interest-rate hike in 2016 increased. At the MCX, Gold futures for October 2016 contract closed at Rs 31,282, per 10 gram, up by 0.34 per cent after opening at Rs 31,174, against the previous closing price of Rs 31,176. It touched the intra-day high of Rs 31,297.
