Mcx Commodity Market News : Morning Session - 19.9.2016
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Yellow metal shines amid uncertainty
19/09/2016 11:10
GOLD: UPTREND
Gold futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators build up fresh positions in the precious metal amid uncertainty ahead of the much awaited central bank meetings in Japan and the US this week. The US consumer prices jumped higher than expected in August month as healthcare costs recorded their biggest gain in 32-1/2 years, thus pointing to a steady build-up of inflation which could allow the US Fed to raise interest rates this year. Safe haven assets became more attractive for investors as compared to others. At the MCX, gold futures for October 2016 contract is trading at Rs 30,894 per 10 grams, up by 0.26 per cent, after opening at Rs 30,932, against a previous close of Rs 30,813. It touched the intra-day high of Rs 30,951 (at 11:00 hours).
Lead futures slide on subdued demand
19/09/2016 10:57
LEAD: DOWN TREND
Lead futures were trading lower during the morning trade in the domestic market on Monday as investors and speculators cut down their bets in the industrial metal due to fall in physical demand for lead, from battery-makers, in the domestic spot market. Further, a decline in demand from battery-makers in the domestic spot market, influenced prices of lead at the domestic spot markets. At the MCX, lead futures for September 2016 contract is trading at Rs 129.35 per kg, down by 0.31 per cent, after opening at Rs 129.20, against a previous close of Rs 129.20. It touched the intra-day low of Rs 129.10 (at 10:58 hours).
Aluminium futures in reverse gear
19/09/2016 10:53
ALUMINIUM: DOWN TREND
Aluminium futures were trading lower during the morning trade in the domestic market on Monday as participants remained on the sidelines amidst decrease in physical demand for aluminium in the domestic spot market. Further, a slide in demand for aluminium at the domestic spot market was led by cutting down of positions by participants in the spot markets, influenced aluminium prices at futures trade. At the MCX, aluminium futures for September 2016 contract is trading at Rs 104.80 per kg, down by 0.33 per cent, after opening at Rs 104.90, against a previous close of Rs 105.15. It touched the intra-day low of Rs 104.55 (at 10:51 hours).
Zinc futures remain flat on muted demand
19/09/2016 10:48
ZINC: DOWN TREND
Zinc futures were trading flat during the morning trade in the domestic market on Monday as investors and speculators remained on the sidelines amid subdued demand from consuming industries at the domestic spot markets. Further, a drop 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 flat at Rs 148.40 per kg, after opening at Rs 149, against a previous close of Rs 148.40. It touched the intra-day low of Rs 148.20 (at 10:48 hours).
Uptick in demand lifts nickel futures by 1.58%
19/09/2016 10:44
NICKEL: UPTREND
Nickel futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators widened their bets amid surge in physical demand from alloy-makers at the domestic spot market. Further, an increase in domestic demand from alloy-makers at the spot markets, supported the uptrend in nickel prices at futures trade. At the MCX, nickel futures for September 2016 contract is trading at Rs 661.90 per kg, up by 1.58 per cent, after opening at Rs 653, against a previous close of Rs 651.60. It touched the intra-day high of Rs 662.30 (at 10:44 hours).
Muted demand drags down mentha oil futures by 1.01%
19/09/2016 10:41
MENTHAOIL: DOWN TREND
Mentha oil futures were trading lower during the morning trade in the domestic market on Monday as participants indulged in offloading their positions in the agri-commodity amid fall in physical demand from major consuming industries for mentha oil in the domestic spot market. Further, a drop 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 889.10 per kg, down by 1.01 per cent after opening at Rs 895, against the previous closing price of Rs 898.20. It touched the intra-day low of Rs 888.80 (at 10:40 hours).
Cardamom futures dive 2% on diminishing demand
19/09/2016 10:35
CARDAMOM: DOWN TREND
Cardamom futures were trading lower during the morning trade in the domestic market on Monday as investors and speculators cut down their positions in the agri-commodity amid slide in 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 domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,179 per kg, down by 2 per cent, after opening at Rs 1,190, against a previous close of Rs 1,203. It touched the intra-day low of Rs 1,179 (at 10:32 hours).
