Mcx Commodity Market News : Morning Session - 10.10.2016
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Crude oil futures tanked by more than 1 per cent during morning trade in the domestic market on Monday as investors and speculators exit positions in the energy commodity as the 14th rise in US oil drilling count in the last 15 weeks signaled higher production in the world’s biggest crude consuming nation, going forward, exacerbating fears over a global supply glut. Baker Hughes said that the number of rigs drilling for oil climbed by 3 to 428 last week.
Traders are awaiting details of an OPEC plan announced last month, to cut output for the first time in eight years.
At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,284 per barrel, down by 1.17 per cent, after opening at Rs 3,292, against a previous close of Rs 3,323. It touched the intra-day low of Rs 3,279.
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Nickel futures zoom as China returns after break
10/10/2016 10:51
Nickel futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators build up fresh positions amid rise in domestic demand in the industrial metal, and tracking positive cues from overseas markets as Chinese markets returned after a week-long break.
The prices of nickel fell last week when Indonesian officials said they were considering reinstating nickel ore exports. At the MCX, nickel futures for October 2016 contract is trading at Rs 693.90 per kg, up by 1.91 per cent, after opening at Rs 682, against a previous close of Rs 680.90. It touched the intra-day high of Rs 695.80 (at 10:44 hours).
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Pick up in demand lifts mentha oil futures by 0.13%
10/10/2016 10:40
Mentha oil futures were trading higher during the morning trade in the domestic market on Monday as participants build up fresh positions in the agri-commodity amid pick up in physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, widening of positions by traders in the spot market led by a rise in demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade.
At the MCX, mentha oil futures for October 2016 contract were trading at Rs 867.50 per kg, up by 0.13 per cent after opening at Rs 866.80, against the previous closing price of Rs 866.40. It touched the intra-day high of Rs 868.80 (at 10:40 hours).
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Uptick in demand lifts cardamom futures by 1.34%
10/10/2016 10:36
Cardamom futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators build up fresh positions in the agri-commodity amid uptick in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices. At the MCX, cardamom futures for November 2016 contract is trading at Rs 1147.60 per kg, up by 1.34 per cent, after opening at Rs 1140, against a previous close of Rs 1132.40. It touched the intra-day high of Rs 1147.80 (at 10:34 hours).
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Oil plunges on rise in US drilling count
10/10/2016 11:26Crude oil futures tanked by more than 1 per cent during morning trade in the domestic market on Monday as investors and speculators exit positions in the energy commodity as the 14th rise in US oil drilling count in the last 15 weeks signaled higher production in the world’s biggest crude consuming nation, going forward, exacerbating fears over a global supply glut. Baker Hughes said that the number of rigs drilling for oil climbed by 3 to 428 last week.
Traders are awaiting details of an OPEC plan announced last month, to cut output for the first time in eight years.
At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,284 per barrel, down by 1.17 per cent, after opening at Rs 3,292, against a previous close of Rs 3,323. It touched the intra-day low of Rs 3,279.
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Join Our Whatsapp No : 9841986753
Nickel futures zoom as China returns after break
10/10/2016 10:51
Nickel futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators build up fresh positions amid rise in domestic demand in the industrial metal, and tracking positive cues from overseas markets as Chinese markets returned after a week-long break.
The prices of nickel fell last week when Indonesian officials said they were considering reinstating nickel ore exports. At the MCX, nickel futures for October 2016 contract is trading at Rs 693.90 per kg, up by 1.91 per cent, after opening at Rs 682, against a previous close of Rs 680.90. It touched the intra-day high of Rs 695.80 (at 10:44 hours).
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Join Our Whatsapp No : 9841986753
Pick up in demand lifts mentha oil futures by 0.13%
10/10/2016 10:40
Mentha oil futures were trading higher during the morning trade in the domestic market on Monday as participants build up fresh positions in the agri-commodity amid pick up in physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, widening of positions by traders in the spot market led by a rise in demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade.
At the MCX, mentha oil futures for October 2016 contract were trading at Rs 867.50 per kg, up by 0.13 per cent after opening at Rs 866.80, against the previous closing price of Rs 866.40. It touched the intra-day high of Rs 868.80 (at 10:40 hours).
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Join Our Whatsapp No : 9841986753
Uptick in demand lifts cardamom futures by 1.34%
10/10/2016 10:36
Cardamom futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators build up fresh positions in the agri-commodity amid uptick in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices. At the MCX, cardamom futures for November 2016 contract is trading at Rs 1147.60 per kg, up by 1.34 per cent, after opening at Rs 1140, against a previous close of Rs 1132.40. It touched the intra-day high of Rs 1147.80 (at 10:34 hours).
