Mcx Commodity Market News : Morning Session - 26.9.2016
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Muted demand drags down cardamom futures by 0.61%
26/09/2016 11:54
CARDAMOM: DOWN TREND
Cardamom futures were trading lower during the morning trade in the domestic market on Monday as investors and speculators remained on the sidelines in the agri-commodity amid muted physical demand for cardamom in the domestic spot market. Further, sufficient supplies amid higher physical arrivals from the major cardamom producing regions, too influenced the downtrend in the domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,122 per kg, down by 0.61 per cent, after opening at Rs 1,119, against a previous close of Rs 1,128.90. It touched the intra-day low of Rs 1,115 (at 11:55 hours).
Oil higher as output talks eyed
26/09/2016 11:19
CRUDEOIL: DOWN TREND
Crude oil futures rose during late morning trade in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity ahead of a meeting between major oil producers this week to discuss possible output curbs in a bid to help ease a global supply glut and support prices.
Algerian Energy Minister reportedly said that Saudi Arabia, the world’s leading crude exporter, is ready to slash output to January levels in a bid to convince other top producers to agree slashing production in Algeria this week.
Marking the twelfth increase in 13 weeks, the US oil drilling count climbed by 2 to 418 last week.
At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,002 per barrel, up by 0.81 per cent, after opening at Rs 2,996, against a previous close of Rs 2,978. It touched the intra-day high of Rs 3,004. (At 11:13 AM).
Zinc futures slide on weak demand
26/09/2016 10:37
ZINC: DOWN TREND
Zinc futures were trading lower during the morning trade in the domestic market on Monday as investors and speculators trimmed their positions amid a fall in demand from consuming industries at the domestic spot markets.
At the MCX, zinc futures for September 2016 contract is trading at Rs 150.75 per kg, drop by 0.46 per cent, after opening at Rs 151.05, against a previous close of Rs 151.45. It touched the intra-day low of Rs 150.55 (at 10:42 hours).
