Mcx Commodity Market News : Morning Session - 9.9.2016
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
Silver little changed in early trade
09/09/2016 11:04
Silver futures were trading on a flat note during morning trade in the domestic market on Friday as traders weigh the prospects of further monetary easing in Japan and Europe and the likelihood of a US Federal Reserve interest rate hike this year.
The ECB downplayed the prospect of a boost in asset purchases even in the wake of heightened uncertainty surrounding the Euro area economy which could be severely hit by Britain’s exit from the EU. The Frankfurt-based central bank on Thursday refrained from expanding its QE program while leaving key interest rates unchanged.
Investors are now weighing whether the Bank of Japan will announce fresh easing measures when it meets this month.
At the MCX, silver futures for December 2016 contract is trading at Rs 46,689 per kg, down by 0.05 per cent, after opening at Rs 46,719, against a previous close of Rs 46,714. It touched the intra-day low of Rs 46,676 (at 10:29 AM).
Copper lower on tepid China inflation data
09/09/2016 10:47
Copper futures fell during morning trade in the domestic market on Friday as investors and speculators exit positions in the industrial metal as produces prices in China remained in the grip of deflation while the European Central Bank (ECB) cut its growth forecast for the 19-member Euro area economy even as it refrained from fresh policy easing, dimming the demand outlook for copper.
China’s factory-gate prices fell 0.8 per cent in August 2016, year-on-year while consumer inflation at 1.3 per cent was subdued.
The ECB cut its 2017 growth forecast for the Euro area economy to 1.6 per cent from 1.7 per cent earlier.
At the MCX, copper futures for November 2016 contract is trading at Rs 313.45 per kg, down by 0.18 per cent, after opening at Rs 313.9, against a previous close of Rs 314. It touched an intra-day low of Rs 313.3 (At 10:13 AM).
Gold tad lower as ECB refrains from fresh stimulus
09/09/2016 10:38
Gold futures were trading with slim losses during morning trade in the domestic market on Friday as investors and speculators stayed on the sidelines as the European Central Bank (ECB) played down the need for further monetary stimulus despite clear signs that the recovery in the 19-member Euro area economy may be faltering, curbing the lure for the yellow metal, a hedge against the inflationary risk of monetary stimulus.
The Frankfurt-based central bank on Thursday refrained from expanding its QE program while leaving key interest rates unchanged.
Investors are now weighing whether the Bank of Japan will announce fresh easing measures when it meets this month.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,200 per 10 grams, down by 0.01 per cent, after opening at Rs 31,245, against a previous close of Rs 31,203. It touched the intra-day low of Rs 31,190 (at 10:05 AM).
Lead futures drop on diminishing demand
09/09/2016 10:38
Lead futures were trading lower during the morning trade in the domestic market on Friday 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 127.15 per kg, down by 0.47 per cent, after opening at Rs 127.30, against a previous close of Rs 127.75. It touched the intra-day low of Rs 126.95 (at 10:36 hours).
Aluminium futures in reverse gear
09/09/2016 10:34
Aluminium futures were trading lower during the morning trade in the domestic market on Friday as participants indulged in trimming their bets amidst decrease in physical demand for aluminium in the domestic spot market.
Further, slide in demand for aluminium at the domestic spot market was mainly on account of cut 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 105.15 per kg, down by 0.28 per cent, after opening at Rs 105.50, against a previous close of Rs 105.45. It touched the intra-day low of Rs 105.05 (at 10:32 hours).
Zinc futures drop on subdued demand
09/09/2016 10:30
Zinc futures were trading lower during the morning trade in the domestic market on Friday 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 at Rs 153.65 per kg, down by 0.16 per cent, after opening at Rs 153.90, against a previous close of Rs 153.90. It touched the intra-day low of Rs 153.55 (at 10:28 hours).
Muted demand drags nickel futures by 0.38%
09/09/2016 10:26
Nickel futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators trimmed their bets amid slide in demand from alloy-makers at the domestic spot market.
Further, a decrease in domestic demand from alloy-makers at the spot markets, influenced the downtrend in nickel prices at futures trade. At the MCX, nickel futures for September 2016 contract is trading at Rs 682.90 per kg, down by 0.38 per cent, after opening at Rs 684.70, against a previous close of Rs 685.50. It touched the intra-day low of Rs 682.80 (at 10:24 hours).
Mentha oil futures up on rising demand
09/09/2016 10:22
Mentha oil futures were trading higher during the morning trade in the domestic market on Friday as participants indulged in building up fresh positions in the agri-commodity amid rise in physical demand from major consuming industries for mentha oil in the domestic spot market.
Further, an increase in demand for mentha oil futures was attributed to widening of bets 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 901.70 per kg, up by 0.18 per cent after opening at Rs 900.90, against the previous closing price of Rs 900.10. It touched the intra-day high of Rs 902.90 (at 10:20 hours).
Cardamom futures zoom 2.04% on upsurge in demand
09/09/2016 10:15
Cardamom futures were trading higher during the morning trade in the domestic market on Friday as investors and speculators build up fresh positions in the agri-commodity amid rise 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 domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,205 per kg, up by 2.04 per cent, after opening at Rs 1,195, against a previous close of Rs 1,180.90. It touched the intra-day high of Rs 1,205 (at 10:14 hours).
Oil soars almost 5% on US supply plunge
09/09/2016 08:45
Crude oil futures rallied handsomely in the domestic market on Thursday as traders cheered the biggest drop in US supplies since 1999, easing fears over a global supply glut in the energy commodity.
The EIA said that US crude oil stockpiles fell 14.5 million barrels to 511.4 million barrels last week.
Refineries increased operating rates by 0.9 percentage points to 93.7 per cent of capacity in the week ended September 2, 2016, the highest since November, signaling a pickup in fuel demand in the US, the world’s biggest fuel consuming nation.
At the MCX, Crude oil futures for September 2016 contract closed at Rs. 3,170 per barrel, up by 4.97 per cent, after opening at Rs. 3,022, against the previous closing price of Rs. 3,020. It touched the intra-day high of Rs. 3,173.
