Mcx Commodity Market News : Morning Session - 10.08.2016
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Saudi comments lift crude oil
12/08/2016 11:26
CRUDEOIL: Up Trend
Crude oil futures rose during late morning trade in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity after Saudi Arabia’s oil minister signaled the likelihood of major crude producers taking steps to stabilize the market at a meeting next month, easing fears over a global supply glut.
Traders shrugged off signs of a further slowdown in the Chinese economy with growth in industrial output, retail sales and urban fixed-asset investment, all coming in below estimates. China’s industrial output grew 6 per cent, year-on-year in July 2016, compared to an annual gain of 6.2 per cent in June 2016.
At the MCX, Crude oil futures for August 2016 contract is trading at Rs 2,936 per barrel, up by 0.82 per cent, after opening at Rs 2,930, against a previous close of Rs 2,912. It touched the intra-day high of Rs 2,954. (At 11:21 AM).
Muted demand drags lead futures by 0.25%
12/08/2016 11:16
LEAD: Down Trend
Lead futures were trading lower during the morning trade in the domestic market on Friday as participants cut down their bets in the industrial metal led by a fall in physical demand for lead, from battery-makers, in the domestic spot market.
Further, a decline in demand from battery-makers in the domestic spot market, influenced the prices of lead in the spot markets. At the MCX, Lead futures for August 2016 contract is trading at Rs 122.10 per kg, down by 0.25 per cent, after opening at Rs 122.05, against a previous close of Rs 122.40. It touched the intra-day low of Rs 121.80 (at 11:15 hours).
Aluminium futures slide by 0.41% on muted demand
12/08/2016 11:11
ALUMINIUM: Down Trend
Aluminium futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators trimmed their positions amidst slide in physical demand for aluminium in the domestic spot market.
Further, a fall in demand for aluminium at the domestic spot market was led by cut down of bets by traders in the spot markets, influenced aluminium prices at futures trade. At the MCX, aluminium futures for August 2016 contract is trading at Rs 109.90 per kg, down by 0.41 per cent, after opening at Rs 110.30, against a previous close of Rs 110.35. It touched the intra-day low of Rs 109.80 (at 11:07 hours).
Zinc futures drop by 0.43% on sluggish demand
12/08/2016 11:03
ZINC: Down Trend
Zinc futures were trading lower during the morning trade in the domestic market on Friday as participants indulged in trimming their positions on the back of muted demand from consuming industries at the domestic spot markets.
Further, a fall in demand for zinc at the domestic spot market was led by cut down of bets by traders in the spot markets, influenced zinc prices at futures trade. At that MCX, zinc futures for August 2016 contract is trading at Rs 151.60 per kg, down by 0.43 per cent, after opening at Rs 151.70, against a previous close of Rs 152.25. It touched the intra-day low of Rs 151.40 (at 10:59 hours).
Sluggish demand drags down nickel futures by 0.46%
12/08/2016 10:57
NICKEL: Down Trend
Nickel futures were trading lower during the morning trade in the domestic market on Friday 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 712.70 per kg, down by 0.46 per cent, after opening at Rs 714, against a previous close of Rs 716. It touched the intra-day low of Rs 711.30 (at 10:42 hours).
Mentha oil futures up by 0.39% on rising demand
12/08/2016 10:53
MENTHAOIL: Down Trend
Mentha oil futures were trading higher during the morning trade in the domestic market on Friday as participants indulged in building up of fresh positions in the agri-commodity amid a rise in physical demand from major consuming industries for mentha oil in the domestic spot market.
Further, an increase in demand for mentha oil futures was attributed to fresh positions build up by traders in the spot market, buoyed prices of mentha oil at futures trade. At the MCX, mentha oil futures for August 2016 contract were trading at Rs 909 per kg, up by 0.39 per cent after opening at Rs 905.10, against the previous closing price of Rs 905.50. It touched the intra-day high of Rs 910 (at 10:42 hours).
Cardamom futures down on muted demand
12/08/2016 10:48
CARDAMOM: Down Trend
Cardamom futures were trading lower during the morning trade in the domestic market on Friday as participants remained on the sidelines in the agri-commodity amid a fall in physical demand for cardamom in the domestic spot market. Further, rise in supplies amid sufficient physical arrivals from the major cardamom producing belts in the country influenced domestic cardamom prices. At the MCX, cardamom futures for August 2016 contract is trading at Rs 1,020 per kg, down by 0.19 per cent, after opening at Rs 1,020, against a previous close of Rs 1,021.90. It touched the intra-day low of Rs 1,020 (at 10:42 hours)
Crude oil futures zoom on IEA monthly report
12/08/2016 09:49
CRUDEOIL: Up Trend
Crude oil futures closed higher in the domestic market on Thursday as the International Energy Agency (IEA) reported that the global crude demand was outpacing the supply, and Saudi Arabia's energy minister said that his country was prepared to help the market rebalance.
At the MCX, crude oil futures for August 2016 contract is trading at Rs 2,912 per barrel, up by 3.56 per cent, after opening at Rs 2,806, against a previous close of Rs 2,812. It touched the intra-day high of Rs 2,937.
White metal in reverse gear on global cues
12/08/2016 09:40
SILVER: Down Trend
Following gold, silver futures closed lower in the domestic market on Thursday as participants cut down their holdings as strength in the US stock market and the dollar offset support from a report showing strong investment demand for precious metals in the first half of 2016.
At the MCX, silver futures for September 2016 contract is trading at Rs 46,750 per kg, down by 0.77 per cent, after opening at Rs 46,871, against a previous close of Rs 47,115. It touched the intra-day low of Rs 46,477.
Yellow metal loses sheen on dollar strengthening
12/08/2016 09:34
GOLD: Down Trend
Gold futures closed lower in the domestic market on Thursday as strength in the US stock market and the dollar offset support from a report showing strong investment demand for precious metals in the first half of 2016.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,315 per 10 grams, down by 0.25 per cent, after opening at Rs 31,350, against a previous close of Rs 31,393. It touched the intra-day low of Rs 31,262
