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OIL PRICES RISE AFTER US CRUDE STOCKS DRAW; GOLD PRICES EXTEND GAINS

At the MCX, Crude oil futures for Sep 2019 contract was trading at Rs. 4038.00 per barrel, up by 0.57%, after opening at Rs. 3995.00 per barrel, against a previous close of Rs. 4015.00 per barrel. It touched an intra-day low of Rs. 3985.00 per barrel and high of Rs. 4049.00 per barrel.

Oil rose on Thursday after opened with negative note, supported by a drop in U.S. crude inventories and OPEC-led supply cuts, although worries about the global economy weighed.

In domestic market Gold prices extended gains today amid a weakening rupee.

MCXCOMDEX opened at 3882.89 and traded up by 0.06% at 3886.96. Commodities like CPO, Crude oil, Cotton, Natural Gas, Gold were stood as top gainers, gained 0.89%, 0.57%, 0.38%, 0.26%, 0.12% respectively. On the other hand, Cardamom, Mentha oil, Nickel, Zinc, Copper, Silver, Lead, futures were stood as top losers, lose by 4.00%, 1.50%, 0.56%, 0.48%, 0.30%, 0.24%, 0.23% respectively. Aluminium Aug future traded on flat note.

The equity benchmarks Sensex and Nifty extended their declines for the third day in a row dragged down by metal, auto and PSU bank stocks as investors remained concerned over economic slowdown. At Close, Nifty fell 180.95 points or 1.67% to 10737.75 level and Sensex ended at 36472.93 at a decline of 587.44 points or 1.59%.



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