Mcx Commodity Market News: Evening Session - 19.9.2016

Mcx Commodity Market News: Evening Session - 19.9.2016

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Zinc futures slide on muted demand
19/09/2016 16:57
ZINC: DOWN TREND
Zinc futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators cut down their positions amid fall in demand from consuming industries at the domestic spot markets.
Further, a decline in demand for zinc at the domestic spot market was led by trimming of positions by traders in the spot markets, influenced zinc prices at futures trade. At the MCX, zinc futures for September 2016 contract is trading at Rs 148.05 per kg, down by 0.24 per cent, after opening at Rs 149, against a previous close of Rs 148.40. It touched the intra-day low of Rs 147.55 (at 16:50 hours).

Nickel futures zoom on spot demand, overseas cues
19/09/2016 16:18
NICKEL: UPTREND
Nickel futures were trading higher during the evening trade in the domestic market on Monday as investors and speculators extended their bets amid uptick in physical demand from alloy-makers at the domestic spot markets and a firm trend globally.
Further, an upsurge in domestic demand from alloy-makers at the spot markets coupled with a firm trend in select base metals in global markets, supported the uptrend in nickel prices at futures trade. At the MCX, nickel futures for September 2016 contract is trading at Rs 663.30 per kg, up by 1.80 per cent, after opening at Rs 653, against a previous close of Rs 651.60. It touched the intra-day high of Rs 664.30 (at 16:15 hours).

Mentha oil futures drop on sluggish demand
19/09/2016 15:47
MENTHAOIL: DOWN TREND
Mentha oil futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators trimmed their bets in the agri-commodity amid tepid physical demand from major consuming industries for mentha oil in the domestic spot market.
Further, a decline in demand for mentha oil futures was attributed to cut down of bets by traders in the spot market, influenced prices of mentha oil at futures trade.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 889 per kg, down by 1.02 per cent after opening at Rs 895, against the previous closing price of Rs 898.20. It touched the intra-day low of Rs 887.20 (at 15:38 hours).


Cardamom futures drop on profit booking
19/09/2016 14:49
CARDAMOM: DOWN TREND
Cardamom futures were trading lower during the afternoon trade in the domestic market on Monday as investors and speculators booked profits in the agri-commodity amid slide in physical demand for cardamom in the domestic spot market. Also, sufficient supplies on adequate physical arrivals from the major cardamom producing regions, too influenced the downtrend in domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,176 per kg, down by 2.24 per cent, after opening at Rs 1,190, against a previous close of Rs 1,203. It touched the intra-day low of Rs 1,167 (at 14:43 hours).

Copper futures in reverse gear
19/09/2016 13:56
COPPER: UPTREND
Copper futures were trading lower during the afternoon trade in the domestic market on Monday as participants trimmed their bets in the industrial metal amid muted demand from domestic markets and tracking a weak trend in select base metals overseas. The prices for copper fell as Anglo American restarted operations after a strike at its Los Bronces mine in central Chile, bolstering supply from the world's largest producer and subdued demand at the domestic spot markets.
At the MCX, copper futures for November 2016 contract is trading at Rs 322.20 per kg, down by 0.57 per cent, after opening at Rs 322.90, against a previous close of Rs 324.05. It touched the intra-day low of Rs 321.20 (at 13:41 hours).


White metal shines on global cues
19/09/2016 13:38
SILVER: UPTREND
Silver futures were trading higher during the afternoon trade in the domestic market on Monday as investors and speculators widened their bets in the precious metal tracking a firm trend overseas ahead of the central bank meetings in Japan and the US this week.
The safe-haven assets become more attractive for investors amid uncertainty as compared to riskier assets.
At the MCX, silver futures for December 2016 contract is trading at Rs 45,865 per kg, up by 1.31 per cent, after opening at Rs 45,620, against a previous close of Rs 45,273. It touched the intra-day high of Rs 45,998 (at 13:31 hours).

Crude oil futures zoom on overseas cues
19/09/2016 12:17

CRUDEOIL: UPTREND
Crude oil futures were trading higher during the noon trade in the domestic market on Monday as investors and speculators widened their bets after Venezuela said OPEC and non-OPEC producers were close to reaching an output stabilising deal while clashes in Libya raised concerns that efforts to restart crude exports could be disrupted.
The Key crude states are due to meet in Algeria next week to discuss the global supply crisis and overproduction that has hammered prices for 2 years.
On Sunday, Venezuela President Nicholas Maduro said participants in the talks -- the OPEC cartel and Russia -- are now working on a deal and that he had discussed the issue with his Iranian and Ecuadoran counterparts.
At the MCX, crude oil futures for September 2016 contract is trading at Rs 2,929 per barrel, up by 1.53 per cent, after opening at Rs 2,899, against a previous close of Rs 2,885. It touched the intra-day
high of Rs 2,937 (at 12:10 hours).