Mcx Commodity Market News : Morning Session - 26.08.2016
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Saudi comments lift Oil
26/08/2016 11:17
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 Arabian Energy Minister Khalid Al-Falih asserted that an output freeze will be positive for the market that is currently oversupplied while reports emerged that Iran will be a party to the informal talks between top producers at Algeria next month. However, the Saudi Energy minister ruled out a cut in production saying a freeze would indicate that producers are satisfied with the present market situation. At the MCX, Crude oil futures for September 2016 contract is trading at Rs 3,178 per barrel, up by 0.63 per cent, after opening at Rs 3,168, against a previous close of Rs 3,158. It touched the intra-day high of Rs 3,182. (At 11:12 AM).
Lead futures gain on spot demand
26/08/2016 11:02
LEAD: UP Trend
Lead futures were trading higher during the morning trade in the domestic market on Friday as investors and speculators build up fresh positions in the industrial metal led by spurt in physical demand for lead, from battery-makers, in the domestic spot market. Further, a surge in demand from battery-makers in the domestic spot market, supported prices of lead at the domestic spot markets. At the MCX, lead futures for August 2016 contract is trading at Rs 125.05 per kg, up by 0.48 per cent, after opening at Rs 124.70, against a previous close of Rs 124.45. It touched the intra-day high of Rs 125.15 (at 11:01 hours).
Uptick in demand lifts aluminium futures by 0.50%
26/08/2016 10:58
ALUMINIUM: UP Trend
Aluminium futures were trading higher during the morning trade in the domestic market on Friday as participants indulged in widening their positions amidst increase in physical demand for aluminium in the domestic spot market. Further, uptick in demand for aluminium at the domestic spot market was mainly on account of building up of fresh bets by participants in the spot markets, supported aluminium prices at futures trade. At the MCX, aluminium futures for August 2016 contract is trading at Rs 110 per kg, up by 0.50 per cent, after opening at Rs 109.85, against a previous close of Rs 109.45. It touched the intra-day high of Rs 110.05 (at 10:55 hours).
Zinc futures up on spot demand
26/08/2016 10:52
ZINC: UP Trend
Zinc futures were trading higher during the morning trade in the domestic market on Friday as investors and speculators widened their bets amid an increase in demand from consuming industries at the domestic spot markets. Further, a rise in demand for zinc at the domestic spot market was due to building up of fresh positions by traders in the spot markets, supported zinc prices at futures trade. At the MCX, zinc futures for August 2016 contract is trading at Rs 155.15 per kg, up by 0.55 per cent, after opening at Rs 155, against a previous close of Rs 154.30. It touched the intra-day high of Rs 155.30 (at 10:48 hours).
