Mcx Commodity Market News : Morning Session - 22.9.2016
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Crude oil futures up on another drop in US crude inventories
22/09/2016 11:02
Crude oil futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators widened their bets after a drawdown in the US crude inventories in a third consecutive week. The crude oil prices soared after the data released by the US Energy Information Administration showed a bigger-than-expected 6.2-million barrels drop in domestic crude stockpiles for the week ended September 16, 2016. At 504.6 million barrels, crude inventories were the lowest since February 12, 2016, but still 11 per cent above year-ago levels, said EIA. At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,076 per barrel, up by 0.98 per cent, after opening at Rs 3,070, against a previous close of Rs 3,046. It touched the intra-day high of Rs 3,080 (at 10:54 hours).
Yellow metal rises on Fed decision
22/09/2016 10:51
Gold futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators build up fresh positions in the precious metal after the August US Fed meeting on Wednesday in which it kept key rates unchanged. The US central bank hold interest rates unchanged at 0.25 per cent to 0.50 per cent. On the other hand, the Bank of Japan had adopted a target for long-term interest rates in its meeting on Wednesday. At the MCX, gold futures for October 2016 contract is trading at Rs 31,283 per 10 grams, up by 0.25 per cent, after opening at Rs 31,250, against a previous close of Rs 31,205. It touched the intra-day high of Rs 31,284 (at 10:44 hours).
Lead futures up 0.74% on robust demand
22/09/2016 10:37
Lead futures were trading higher during the morning trade in the domestic market on Thursday as participants started building up fresh positions in the industrial metal on account of increase in physical demand for lead, from battery-makers, in the domestic spot market. Further, a rise in demand from battery-makers in the domestic spot market, supported prices of lead at the domestic spot markets. At the MCX, lead futures for September 2016 contract is trading at Rs 130.10 per kg, up by 0.74 per cent, after opening at Rs 129.85, against a previous close of Rs 129.15. It touched the intra-day high of Rs 130.20 (at 10:35 hours).
Aluminium futures gain on upsurge in demand
22/09/2016 10:32
Aluminium futures were trading higher during the morning trade in the domestic market on Thursday as participants widened their positions amidst uptick in physical demand for aluminium in the domestic spot market. Further, a rise in demand for aluminium at the domestic spot market was led by building up of fresh positions by participants in the spot markets, supported aluminium prices at futures trade. At the MCX, aluminium futures for September 2016 contract is trading at Rs 106.25 per kg, up by 0.66 per cent, after opening at Rs 105.80, against a previous close of Rs 105.55. It touched the intra-day high of Rs 106.50 (at 10:32 hours).
Pick up in demand lifts zinc futures by 0.96%
22/09/2016 10:29
Zinc futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators widened their positions amid an increase in demand from consuming industries at the domestic spot markets. Investors build up fresh positions after the US Fed decided to keep key policy rates on hold while the Bank of Japan adjusted its monetary policy on Wednesday. At the MCX, zinc futures for September 2016 contract is trading at Rs 152.90 per kg, up by 0.96 per cent, after opening at Rs 152.20, against a previous close of Rs 151.45. It touched the intra-day high of Rs 152.95 (at 10:25 hours).
Nickel futures zoom 1.03% on upsurge in demand
22/09/2016 10:22
Nickel futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators widened their bets amid surge in physical demand from alloy-makers at the domestic spot market. Further, pickup 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 697.40 per kg, up by 1.03 per cent, after opening at Rs 691, against a previous close of Rs 690.30. It touched the intra-day high of Rs 698.30 (at 10:21 hours).
Mentha oil futures up on rising demand
22/09/2016 10:18
Mentha oil futures were trading higher during the morning trade in the domestic market on Thursday as participants indulged in building up of positions in the agri-commodity amid a rise in physical demand from major consuming industries for mentha oil in the domestic spot market. Further, an uptick in demand for mentha oil futures was attributed to widening of positions by traders in the spot market, supported prices of mentha oil at futures trade. At the MCX, mentha oil futures for September 2016 contract were trading at Rs 884.80 per kg, up by 0.15 per cent after opening at Rs 883.60, against the previous closing price of Rs 883.50. It touched the intra-day high of Rs 885.10 (at 10:17 hours).
Uptick in demand lifts cardamom futures by 0.53%
22/09/2016 10:15
Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators started building up fresh positions in the agri-commodity amid uptick in physical demand for cardamom in the domestic spot market. Further, insufficient supplies amid restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,144.50 per kg, up by 0.53 per cent, after opening at Rs 1,140, against a previous close of Rs 1,138.50. It touched the intra-day high of Rs 1,147 (at 10:10 hours).
