India’s Multi Commodity Exchanges has recorded a weekly turnover of Rs. 8995755.27 lakh during this week. At MCX, all the four indices were the weekly loser on account of demand and supply issues of commodities. MCXCOMDEX was opened at 3567.51 on Monday and ended the trading sessions on Friday at 3542.32, recording a marginal weekly decline of 0.70 per cent. This index has made a weekly low of 3537.62 and high of 3561.64. Among the indices on Multi commodity exchange, METAL index stood as the top loser during this week. It has decreased 0.90 per cent after opened at 5128.51on Monday and closed at 5081.91on Friday. ENERGY index recorded a weekly loss of 0.32 per cent and made weekly low of 2710.55 and high of 2742.95. AGRI index was opened at 2798.40 on Monday and closed at 2788.30 on Friday, having registered a weekly loss of 0.36 per cent.
For this week METAL index has registered a weekly loss of 0.90 per cent. Under Base Metals commodities like LEAD and ZINC were the weekly gainer while ALUMINIUM, COPPER and NICKEL were the weekly loser. ALUMINIUM Jan future was opened at Rs. 145.05 per kg on Monday and closed at 139.20 on Friday, registering weekly decline of 4.03 per cent and COPPER Feb contract reached at Rs. 452.50 per kg on Friday after opened on flat positive note at Rs. 467.85 per kg on Monday, recorded a high weekly loss of 3.28 per cent. NICKEL Jan future registered a weekly loss of 2.42 per cent to reach at Rs. 794.30 per kg on Friday. Both LEAD and ZINC Jan future were reached at Rs. 161.90 per kg and Rs.213.80 per kg, having registered weekly gain of 0.97 per cent and 0.66 per cent respectively.
This week Precious Metals have shown a positive sign, GOLD Feb future contract has recorded a weekly gain of 0.20 per cent after opened on positive note at Rs. 29160.00 per 10 gm on Monday and closed at Rs. 29217.00 per 10 gm on Friday while SILVER Mar contract has registered weekly of gain 0.42 per cent and closed at Rs. 39253.00 per kg on Friday. GOLDGUINEA, GOLDPETAL and GOLDM Jan futures were the weekly gainer. Spot GOLD recorded weekly gain of 0.32 per cent and reached at Rs.29454.00 per 10 gm on Friday. Gold prices gained as a Twitter taunt by President Donald Trump to North Korean leader Kim Jong-un raised the stakes on nuclear weapons policy.
AGRI index has registered a weekly loss of 0.36 per cent. Commodities like MENTHOIL and CARDAMOM were in the negative side while CPO was in positive side . COTTON Jan future was opened at Rs.20240.00 per bales on Monday and closed at Rs. 20240.00 per bales on Friday , registered a flat note in this week. MENTHOIL and CARDAMOM Jan futures were reached at Rs. 1671.80 per kg and Rs. 1058.50 per kg on Friday, having registered a weekly decline of 0.19 per cent and 4.34 per cent respectively. CPO Jan future registered weekly gain of 0.48 per cent and reached at Rs. 560.70 per 10 kg.
ENERGY index has shown a mixed note in this week. CRUDEOIL future was the weekly gainer while NATURALGAS future was the weekly loser in this index. CRUDEOIL Jan contract reached at Rs. 3887.00 per BBL on Friday, registered a weekly gain of 0.75 per cent. Spot price of CRUDEOIL recorded a weekly gain of 1.29 per cent. NATURALGAS Nov contract registered weekly decline of 7.47 per cent and reached at Rs.177.10 per mmBtu on Friday due to lower demand in spot market.
Subhashree Swain Analyst