Mcx Commodity Market News : Evening Session - 3.10.2016
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Crude oil futures zoom after OPEC output accord
03/10/2016 14:19
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 after a planned production cut by exporter club OPEC.
The oil prices had been supported following the OPEC’s preliminary agreement to cut production.
Last week, OPEC said it would cut output to between 32.5 million barrels per day (bpd) and 33.0 million bpd from about 33.5 million bpd, with details to be finalised at its policy meeting in November. At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,246 per barrel, up by 1.06 per cent, after opening at Rs 3,202, against a previous close of Rs 3,212. It touched the intra-day high of Rs 3,257 (at 14:05 hours).
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Yellow metal little changed as demand picks up
03/10/2016 13:53
Gold futures were little changed during the afternoon trade in the domestic market on Monday as investors and speculators build up fresh positions in the precious metal amid surge in demand at the domestic market despite weak global trend.
Further, easing worries over the health of German lender Deutsche Bank after reports emerged that it was set to be nearing a less-costly settlement than earlier feared, restricted further rise in prices for gold at futures trade.
At the MCX, gold futures for October 2016 contract is trading at Rs 30,760 per 10 grams, up by 0.06 per cent, after opening at Rs 30,732, against a previous close of Rs 30,742. It touched the intra-day high of Rs 30,776 (at 13:44 hours).
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Lead futures were trading higher during the noon trade in the domestic market on Monday as participants widened their positions in the industrial metal due to an increase in physical demand for lead, from battery-makers, in the domestic spot market and amidst signs of stabilisation in China's economy.
Further, an uptick in demand from battery-makers in the domestic spot market amid signs of stabilisation in China's economy, supported the prices of lead at the domestic spot markets. At the MCX, lead futures for October 2016 contract is trading at Rs 142.40 per kg, up by 0.46 per cent, after opening at Rs 141.30, against a previous close of Rs 141.75. It touched the intra-day high of Rs 142.70 (at 12:29 hours).
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Uptick in demand lifts aluminium futures by 0.27%
03/10/2016 12:26
Aluminium futures were trading higher during the noon trade in the domestic market on Monday as participants widened their positions amidst uptick in physical demand for aluminium in the domestic spot market.
Further, an increase 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 October 2016 contract is trading at Rs 111.50 per kg, up by 0.27 per cent, after opening at Rs 111.05, against a previous close of Rs 111.20. It touched the intra-day high of Rs 112.30 (at 12:25 hours).
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Zinc futures rise on pickup in demand
03/10/2016 11:46
Zinc futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators widened their positions in the industrial metal amid a surge in demand from consuming industries at the domestic spot markets.
Further, participants build up fresh positions in the industrial metal due to a rise in demand from consuming industries, supported prices of zinc at futures trade. At the MCX, zinc futures for October 2016 contract is trading at Rs 158.40 per kg, up by 0.19 per cent, after opening at Rs 158, against a previous close of Rs 158.10. It touched the intra-day high of Rs 158.40 (at 11:42 hours).
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03/10/2016 14:19
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 after a planned production cut by exporter club OPEC.
The oil prices had been supported following the OPEC’s preliminary agreement to cut production.
Last week, OPEC said it would cut output to between 32.5 million barrels per day (bpd) and 33.0 million bpd from about 33.5 million bpd, with details to be finalised at its policy meeting in November. At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,246 per barrel, up by 1.06 per cent, after opening at Rs 3,202, against a previous close of Rs 3,212. It touched the intra-day high of Rs 3,257 (at 14:05 hours).
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Yellow metal little changed as demand picks up
03/10/2016 13:53
Gold futures were little changed during the afternoon trade in the domestic market on Monday as investors and speculators build up fresh positions in the precious metal amid surge in demand at the domestic market despite weak global trend.
Further, easing worries over the health of German lender Deutsche Bank after reports emerged that it was set to be nearing a less-costly settlement than earlier feared, restricted further rise in prices for gold at futures trade.
At the MCX, gold futures for October 2016 contract is trading at Rs 30,760 per 10 grams, up by 0.06 per cent, after opening at Rs 30,732, against a previous close of Rs 30,742. It touched the intra-day high of Rs 30,776 (at 13:44 hours).
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Lead futures up 0.46% on overseas cues
03/10/2016 12:35Lead futures were trading higher during the noon trade in the domestic market on Monday as participants widened their positions in the industrial metal due to an increase in physical demand for lead, from battery-makers, in the domestic spot market and amidst signs of stabilisation in China's economy.
Further, an uptick in demand from battery-makers in the domestic spot market amid signs of stabilisation in China's economy, supported the prices of lead at the domestic spot markets. At the MCX, lead futures for October 2016 contract is trading at Rs 142.40 per kg, up by 0.46 per cent, after opening at Rs 141.30, against a previous close of Rs 141.75. It touched the intra-day high of Rs 142.70 (at 12:29 hours).
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Uptick in demand lifts aluminium futures by 0.27%
03/10/2016 12:26
Aluminium futures were trading higher during the noon trade in the domestic market on Monday as participants widened their positions amidst uptick in physical demand for aluminium in the domestic spot market.
Further, an increase 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 October 2016 contract is trading at Rs 111.50 per kg, up by 0.27 per cent, after opening at Rs 111.05, against a previous close of Rs 111.20. It touched the intra-day high of Rs 112.30 (at 12:25 hours).
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Zinc futures rise on pickup in demand
03/10/2016 11:46
Zinc futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators widened their positions in the industrial metal amid a surge in demand from consuming industries at the domestic spot markets.
Further, participants build up fresh positions in the industrial metal due to a rise in demand from consuming industries, supported prices of zinc at futures trade. At the MCX, zinc futures for October 2016 contract is trading at Rs 158.40 per kg, up by 0.19 per cent, after opening at Rs 158, against a previous close of Rs 158.10. It touched the intra-day high of Rs 158.40 (at 11:42 hours).
