In Domestic commodity market, three of the four indices opened on negative notes. Today MCXCOMDEX opened on flat positive note at 3559.08, decline by 0.02 per cent than its previous closed at 3560.02 while METAL index was also opened on flat negative note at 5093.21, down by 0.04 per cent from its previous closed at 5095.67. ENERGY opened on marginally positive note at 2784.57 up by 0.78 per cent after closed at Rs. 2770.18 on previous day where as AGRI index opened on flat negative note at 2780.09 in the morning trading session. India's Multi commodity exchange has recorded turnover of Rs. 2079665.73 Lacs on 3rd Jan 2018.
ENERGY index has shown an upward momentum in the morning trading session. Both NATURALGAS and CRUDEOIL were trading on strong positive notes and stood as the top gainer in the domestic commodity market. NATURALGAS Jan contract was trading up by 1.47 per cent to Rs. 193.70 per mmBtu after a decline of 1.90 per cent on yesterday's closing price while CRUDEOIL Jan contract was trading on negative at Rs. 3943.00 per BBL, up by 1.02 per cent after a rise of 2.09 per cent on last day closing price.
Under AGRI index, commodities like CARDAMOM, MENTHAOIL and COTTON futures were trading on marginally positive note in the morning trading session while CPO Jan future was trading on negative note. CARDAMOM Jan future was trading on strong positive note at Rs. 1089.00 per kg, with an increase of 0.96 per cent and MENTHAOIL Jan future was trading on marginally positive note at Rs. 1637.50 per kg, up by 0.94.per cent after a rise of 3.04 per cent on last day closing price. COTTON Jan future was trading up by 0.45 per cent to Rs. 20220.00 per bales while CPO Jan future was trading down by 0.11 per cent to Rs. 563.50 per 10 kg after an increase of 0.98 per cent on previous closing price.
METAL index opened on negative note with a decline of 0.04 per cent. Both Precious Metals and Base Metals were trading on negative note in the morning trading session. Under Base Metals, commodities like LEAD, ZINC, COPPER, ALUMINIUM and NICKEL were trading on negative notes. LEAD Jan contract was trading on marginally negative note at Rs.162.95 per kg, down by 0.40 per cent. ZINC Jan future was trading lower by 0.26 per cent to Rs. 211.80 per kg while COPPER Feb future was also trading down by 0.14 per cent to Rs. 456.90 per kg. Both ALUMINIUM and NICKEL Jan futures were trading on negative notes at Rs. 140.65 per kg and Rs.787.40 per kg, down by 0.53 per cent and 0.44 per cent respectively. ALUMINIUM Jan future stood as the top loser in these commodities.
Precious Metals have shown a downward momentum in the morning trading session. GOLD Feb future was trading on marginally negative note at Rs. 29086.00 per 10 gm, down by 0.48 per cent while SILVER Mar future contract was trading down by 0.88 per cent to Rs. 38956.00 per kg after a rise of 0.30 per cent on yesterday's closing price. Gold prices fell in Asia on Today as the Fed appeared a tad more hawkish in the December meeting minutes and investors fretted over inflation implications.
Subhashree Swain Analyst