Mcx Commodity Market News : Morning Session - 26.9.2016
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
Zinc futures slide 1.02% on US factory woes
26/09/2016 16:19
ZINC: DOWN TREND
Zinc futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators trimmed their positions in the industrial metal amid a fall in demand from consuming industries at the domestic spot markets.
Further, a slowdown in US manufacturing raised concerns over the health of the world’s biggest economy, dimming the demand outlook for metals. A gauge measuring US manufacturing fell to 51.4 in September compared to 52 in August, with a reading above 50 signaling expansion. At the MCX, zinc futures for September 2016 contract is trading at Rs 149.90 per kg, down by 1.02 per cent, after opening at Rs 151.05, against a previous close of Rs 151.45. It touched the intra-day low of Rs 149.45 (at 16:16 hours).
Lead falls on soft physical demand
26/09/2016 15:38
LEAD: DOWN TREND
Lead futures fell during noon trade in the domestic market on Monday as investors and speculators exit positions in the industrial metal amid weak physical demand for lead, from battery-makers in the domestic spot market.
Investors remain wary ahead of speeches from key officials from major global central banks that may offer the outlook for monetary policy in developed economies, helping shape the demand prospects for metals. The chiefs of central banks in the US and the Euro area are due to speak this week.
At the MCX, lead futures for September 2016 contract is trading at Rs 126.75 per kg, down by 0.47 per cent, after opening at Rs 127.10, against a previous close of Rs 127.35. It touched the intra-day low of Rs 126.55 (at 15:34 PM).
Crude oil futures up 0.67% as output talks eyed
26/09/2016 15:35
CRUDEOIL: UPTREND
Crude oil futures were trading higher during the afternoon trade in the domestic market on Monday as investors and speculators widened their 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 2,998 per barrel, up by 0.67 per cent, after opening at Rs 2,996, against a previous close of Rs 2,978. It touched the intra-day high of Rs 3,010 (at 15:33 hours).
Silver in reverse gear in noon trade
26/09/2016 15:29
SILVER: DOWN TREND
Silver futures plunged during noon trade in the domestic market on Monday as investors and speculators exit positions in the precious metal tracking a bearish trend overseas as caution prevailed ahead of key events this week including the first US Presidential debate between the two leading candidates i.e. Hillary Clinton and Donald trump later today, and speeches of key central bank officials, spurring safe haven demand for the bullion.
Fed Chair Janet Yellen will speak this week even as uncertainty continues to surround the timing of the next US interest rate hike while European Central Bank president Mario Draghi may offer fresh hints over whether the Frankfurt-based central bank is likely to prop up stimulus.
At the MCX, silver futures for December 2016 contract is trading at Rs 46,390 per kg, down by 0.91 per cent, after opening at Rs 46,800, against a previous close of Rs 46,817. It touched the intra-day low of Rs 46,340 (at 15:27 PM).
Global slowdown fears hit copper
26/09/2016 15:22
COPPER: DOWN TREND
Copper futures fell during noon trade in the domestic market on Monday as investors and speculators exit positions in the industrial metal amid weak physical demand for copper in the domestic spot market.
Further, a slowdown in manufacturing activity in the US and private sector growth in the Euro area in September raised concerns over the metal’s near-term demand outlook.
While a gauge measuring US manufacturing fell to 51.4 in September compared to 52 in August, a combined index of Euro area manufacturing and services hit a 20-month low this month at 52.6, signaling an uncertain outlook for the 19-member economy.
At the MCX, copper futures for November 2016 contract is trading at Rs 325.6 per kg, down by 0.67 per cent, after opening at Rs 327, against a previous close of Rs 327.80. It touched the intra-day low of Rs 325.05 (at 15:16 PM).
Yellow metal little changed; focus on US debate
26/09/2016 15:21
GOLD: DOWN TREND
Gold futures were little changed during the afternoon trade in the domestic market on Monday as investors and speculators remained on the sidelines in the precious metal in the domestic markets on firm dollar.
However, market is focused on the outcome of the US presidential debate later in the day, that could see investors buying more of the metal as a hedge against financial uncertainty.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,268 per 10 grams, down by 0.04 per cent, after opening at Rs 31,236, against a previous close of Rs 31,281. It touched the intra-day low of Rs 31,211 (at 15:12 hours).
Nickel bears in control
26/09/2016 14:37
NICKEL: DOWN TREND
Nickel futures tumbled by more than 1.5 per cent during noon trade in the domestic market on Monday as investors and speculators exit positions in the industrial metal amid weak physical demand for nickel, from alloy-makers in the domestic spot market.
Sentiment also dampened after a report by Citigroup said that fears over supplies due to the shutting down of operations at some mines in Philippines, the world's top miner of nickel ore, if they fail to meet new environment or welfare standards, are misplaced.
At the MCX, nickel futures for September 2016 contract is trading at Rs 695.2 per kg, down by 1.57 per cent, after opening at Rs 705, against a previous close of Rs 706.30. It touched the intra-day low of Rs 692.7 (at 14:32 PM).
