Mcx Commodity Market News: Evening Session - 8.9.2016
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Lead extends drop in noon trade
08/09/2016 15:19
Lead futures fell during noon trade in the domestic market on Thursday as investors and speculators exit positions in the industrial metal amid weak physical demand for lead, from battery-makers, in the domestic spot market.
Traders cast aside improved US labour market data as job openings surged by the most in six months, up by 228,000 to 5.87 million in July.
At the MCX, lead futures for September 2016 contract is trading at Rs 126.4 per kg, down by 0.71 per cent, after opening at Rs 127.20, against a previous close of Rs 127.30. It touched the intra-day low of Rs 126.30 (at 15:17 PM).
Nickel in firm gear on improving outlook
08/09/2016 15:15
Nickel futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid robust physical demand for nickel, from alloy-makers, in the domestic spot market.
A sixth straight rise in China’s exports in yuan terms in August and an upward revision in Japan’s Q2 GDP growth bolstered the demand outlook for the base metal. China’s exports rose by 5.9 per cent in August 2016, year-on-year while Japan upped its estimate for Q2 GDP growth to 0.7 per cent annualized rate from 0.2 per cent.
At the MCX, nickel futures for September 2016 contract is trading at Rs 685.2 per kg, up by 0.90 per cent, after opening at Rs 680, against a previous close of Rs 679.1. It touched the intra-day high of Rs 685.8(at 15:12 PM).
Natural Gas higher in noon trade
08/09/2016 14:29
Natural gas futures rose during noon trade in the domestic market on Thursday as investors eyed the weekly US storage data which may show the state of health of the demand for the fuel in the world’s biggest gas consuming nation.
The EIA last week showed that US gas supplies had risen by 51 billion cubic feet in the week ended August 26, 2016.
However, with the peak summer demand for the power plant fuel now coming to an end, stockpiles may increase further in the coming weeks.
At the MCX, Natural gas futures for September 2016 contract were trading at Rs 180 per mmbtu, up by 0.90 per cent, after opening at Rs. 178.9, against the previous closing price of Rs. 178.4. It touched the intra-day high of Rs. 180.1 (At 14:19 PM).
Silver gets a boost from weaker greenback
08/09/2016 14:28
Silver futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking strength in the bullion overseas as a weaker dollar bolstered the appeal of silver as an alternative asset.
Weaker greenback makes silver cheaper for those holding other currencies, thus bolstering demand.
Meanwhile, uncertainty remains over the timing of the next US Federal Reserve interest rate hike with Richmond Fed President Jeffrey Lacker signaling a strong case for September tightening while Kansas City Fed President Esther George stressed that the US labour market was operating at or near full strength.
At the MCX, silver futures for December 2016 contract is trading at Rs 47,290 per kg, up by 0.59 per cent, after opening at Rs 47,220, against a previous close of Rs 47,013. It touched the intra-day high of Rs 47,360 (at 14:27 PM).
Zinc bears rule the roost
08/09/2016 14:14
Zinc futures fell during noon trade in the domestic market on Thursday as investors and speculators exit positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Traders weighed data which showed that China’s exports rose for the sixth straight month in yuan terms, up by 5.9 per cent in August 2016 as a weaker currency cushioned the country’s overseas shipments from a continued global slowdown. However, in dollar terms, exports fell 2.8 per cent, year-on-year in August 2016.
At the MCX, zinc futures for September 2016 contract is trading flat at Rs 152.75 per kg, down by 0.81 per cent, after opening at Rs 154.25, against a previous close of Rs 154. It touched the intra-day low of Rs 152.6. (At 14:11 PM).
Mixed China trade data weighs on Copper
08/09/2016 14:07
Copper futures stalled during noon trade in the domestic market on Thursday as investors and speculators stayed on the sidelines ahead of the ECB policy meet later in the session with hopes that the Frankfurt-based central bank may boost QE as it cuts growth forecasts for the Euro area.
Meanwhile, a mixed bag of Chinese trade data signaled uncertainty over the demand outlook for copper from the world’s biggest metals consuming nation as Chinese exports fell 2.8 per cent, year-on-year in August 2016 but imports climbed 1.5 per cent.
At the MCX, copper futures for November 2016 contract is trading at Rs 312.5 per kg, unchanged, after opening at Rs 313, against a previous close of Rs 312.5 (At 14:04 PM).
Gold logs slim gains as ECB eyed
08/09/2016 13:56
Gold futures were trading mildly higher during noon trade in the domestic market on Thursday as investors remained focused on the European Central Bank (ECB) meeting with the Frankfurt-based central bank likely to maintain record stimulus and issue fresh growth and inflation outlooks for the Euro area.
Gold, a non-interest bearing asset, tends to benefit from a loose monetary policy regime.
Meanwhile, traders continued to assess the case for Fed policy tightening in the coming months amid the recent bag of mixed economic data. The Fed in its Beige Book survey said that the US economy continued to expand at a modest pace in July and August but inflation remained subdued.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,339 per 10 grams, up by 0.11 per cent, after opening at Rs 31,350, against a previous close of Rs 31,305. It touched the intra-day high of Rs 31,370 (at 13:48 PM).
Global cues lift white metal by 0.61%
08/09/2016 13:54
Silver futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators widened their positions in the precious metal tracking a firm trend overseas.
Further, enlargning of positions by participants in the domestic market was driven by firm global trend, thus rising silver prices at futures trade. At the MCX, silver futures for December 2016 contract is trading at Rs 47,300 per kg, up by 0.61 per cent, after opening at Rs 47,220, against a previous close of Rs 47,013. It touched the intra-day high of Rs 47,343 (at 13:49 hours).
Cardamom surges over 1% on upbeat physical demand
08/09/2016 13:13
Cardamom futures jumped over 1 per cent during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom from major consuming industries in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major cardamom producing regions in the country also exerted upward pressure on domestic cardamom prices.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,146 per kg, up by 1.29 per cent, after opening at Rs 1,138.80, against a previous close of Rs 1,131.40. It touched the intra-day high of Rs 1,150 (at 13:09 PM).
Firm physical demand buoys Mentha Oil
08/09/2016 13:13
Mentha Oil futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing regions also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 913.10 per kg, up by 0.25 per cent after opening at Rs 908.60, against the previous closing price of Rs 910.80. It touched the intra-day high of Rs 917.5 (at 13:13 PM).
Yellow metal shines on overseas cues
08/09/2016 13:12
Gold futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal amid increased expectations that the US Fed may not hike interest rates in September in the world’s biggest economy after weaker-than-expected US jobs growth in August.
Safe haven assets become attractive for investors amid uncertainity on US Fed interest hike, thus rising demand for gold.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,349 per 10 grams, up by 0.14 per cent, after opening at Rs 31,350, against a previous close of Rs 31,305. It touched the intra-day high of Rs 31,370 (at 13:04 hours).
Free Mcx Commodity Trend Update ( Call - 9094047040)
Click Here & Register To Get 2 days Trial Tips
Join Our Whatsapp No : 9841986753
Keep Refresh for Fresh Tips
Lead extends drop in noon trade
08/09/2016 15:19
Lead futures fell during noon trade in the domestic market on Thursday as investors and speculators exit positions in the industrial metal amid weak physical demand for lead, from battery-makers, in the domestic spot market.
Traders cast aside improved US labour market data as job openings surged by the most in six months, up by 228,000 to 5.87 million in July.
At the MCX, lead futures for September 2016 contract is trading at Rs 126.4 per kg, down by 0.71 per cent, after opening at Rs 127.20, against a previous close of Rs 127.30. It touched the intra-day low of Rs 126.30 (at 15:17 PM).
Nickel in firm gear on improving outlook
08/09/2016 15:15
Nickel futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid robust physical demand for nickel, from alloy-makers, in the domestic spot market.
A sixth straight rise in China’s exports in yuan terms in August and an upward revision in Japan’s Q2 GDP growth bolstered the demand outlook for the base metal. China’s exports rose by 5.9 per cent in August 2016, year-on-year while Japan upped its estimate for Q2 GDP growth to 0.7 per cent annualized rate from 0.2 per cent.
At the MCX, nickel futures for September 2016 contract is trading at Rs 685.2 per kg, up by 0.90 per cent, after opening at Rs 680, against a previous close of Rs 679.1. It touched the intra-day high of Rs 685.8(at 15:12 PM).
Natural Gas higher in noon trade
08/09/2016 14:29
Natural gas futures rose during noon trade in the domestic market on Thursday as investors eyed the weekly US storage data which may show the state of health of the demand for the fuel in the world’s biggest gas consuming nation.
The EIA last week showed that US gas supplies had risen by 51 billion cubic feet in the week ended August 26, 2016.
However, with the peak summer demand for the power plant fuel now coming to an end, stockpiles may increase further in the coming weeks.
At the MCX, Natural gas futures for September 2016 contract were trading at Rs 180 per mmbtu, up by 0.90 per cent, after opening at Rs. 178.9, against the previous closing price of Rs. 178.4. It touched the intra-day high of Rs. 180.1 (At 14:19 PM).
Silver gets a boost from weaker greenback
08/09/2016 14:28
Silver futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking strength in the bullion overseas as a weaker dollar bolstered the appeal of silver as an alternative asset.
Weaker greenback makes silver cheaper for those holding other currencies, thus bolstering demand.
Meanwhile, uncertainty remains over the timing of the next US Federal Reserve interest rate hike with Richmond Fed President Jeffrey Lacker signaling a strong case for September tightening while Kansas City Fed President Esther George stressed that the US labour market was operating at or near full strength.
At the MCX, silver futures for December 2016 contract is trading at Rs 47,290 per kg, up by 0.59 per cent, after opening at Rs 47,220, against a previous close of Rs 47,013. It touched the intra-day high of Rs 47,360 (at 14:27 PM).
Zinc bears rule the roost
08/09/2016 14:14
Zinc futures fell during noon trade in the domestic market on Thursday as investors and speculators exit positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Traders weighed data which showed that China’s exports rose for the sixth straight month in yuan terms, up by 5.9 per cent in August 2016 as a weaker currency cushioned the country’s overseas shipments from a continued global slowdown. However, in dollar terms, exports fell 2.8 per cent, year-on-year in August 2016.
At the MCX, zinc futures for September 2016 contract is trading flat at Rs 152.75 per kg, down by 0.81 per cent, after opening at Rs 154.25, against a previous close of Rs 154. It touched the intra-day low of Rs 152.6. (At 14:11 PM).
Mixed China trade data weighs on Copper
08/09/2016 14:07
Copper futures stalled during noon trade in the domestic market on Thursday as investors and speculators stayed on the sidelines ahead of the ECB policy meet later in the session with hopes that the Frankfurt-based central bank may boost QE as it cuts growth forecasts for the Euro area.
Meanwhile, a mixed bag of Chinese trade data signaled uncertainty over the demand outlook for copper from the world’s biggest metals consuming nation as Chinese exports fell 2.8 per cent, year-on-year in August 2016 but imports climbed 1.5 per cent.
At the MCX, copper futures for November 2016 contract is trading at Rs 312.5 per kg, unchanged, after opening at Rs 313, against a previous close of Rs 312.5 (At 14:04 PM).
Gold logs slim gains as ECB eyed
08/09/2016 13:56
Gold futures were trading mildly higher during noon trade in the domestic market on Thursday as investors remained focused on the European Central Bank (ECB) meeting with the Frankfurt-based central bank likely to maintain record stimulus and issue fresh growth and inflation outlooks for the Euro area.
Gold, a non-interest bearing asset, tends to benefit from a loose monetary policy regime.
Meanwhile, traders continued to assess the case for Fed policy tightening in the coming months amid the recent bag of mixed economic data. The Fed in its Beige Book survey said that the US economy continued to expand at a modest pace in July and August but inflation remained subdued.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,339 per 10 grams, up by 0.11 per cent, after opening at Rs 31,350, against a previous close of Rs 31,305. It touched the intra-day high of Rs 31,370 (at 13:48 PM).
Global cues lift white metal by 0.61%
08/09/2016 13:54
Silver futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators widened their positions in the precious metal tracking a firm trend overseas.
Further, enlargning of positions by participants in the domestic market was driven by firm global trend, thus rising silver prices at futures trade. At the MCX, silver futures for December 2016 contract is trading at Rs 47,300 per kg, up by 0.61 per cent, after opening at Rs 47,220, against a previous close of Rs 47,013. It touched the intra-day high of Rs 47,343 (at 13:49 hours).
Cardamom surges over 1% on upbeat physical demand
08/09/2016 13:13
Cardamom futures jumped over 1 per cent during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom from major consuming industries in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major cardamom producing regions in the country also exerted upward pressure on domestic cardamom prices.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,146 per kg, up by 1.29 per cent, after opening at Rs 1,138.80, against a previous close of Rs 1,131.40. It touched the intra-day high of Rs 1,150 (at 13:09 PM).
Firm physical demand buoys Mentha Oil
08/09/2016 13:13
Mentha Oil futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing regions also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 913.10 per kg, up by 0.25 per cent after opening at Rs 908.60, against the previous closing price of Rs 910.80. It touched the intra-day high of Rs 917.5 (at 13:13 PM).
Yellow metal shines on overseas cues
08/09/2016 13:12
Gold futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal amid increased expectations that the US Fed may not hike interest rates in September in the world’s biggest economy after weaker-than-expected US jobs growth in August.
Safe haven assets become attractive for investors amid uncertainity on US Fed interest hike, thus rising demand for gold.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,349 per 10 grams, up by 0.14 per cent, after opening at Rs 31,350, against a previous close of Rs 31,305. It touched the intra-day high of Rs 31,370 (at 13:04 hours).
