WEEKLY COMMODITY REPORT: MCXCOMDEX UP ON FIRM GLOBAL CUES

Total turnover stood at Rs. 16616022 lakh in various futures & option contracts for commodities listed at MCX during the week July 29th to 2nd Aug 2019. The commodity market gained on Friday with MCX Comdex — the index comprising energy, metals and agri items — closing at 3735.31, up 28.24 points or 0.76% over previous Friday’s. The Metal index closed at 5587.77, up 1.30%, the Energy index was up 0.28% at 2674.54 while Agri index down by 0.40% at 2898.97.

In the Energy segment, Crude oil for Aug closed at Rs 3891 per BBL on Friday , up 0.57% over previous Friday’s while Natural Gas for Aug closed at Rs 148.40 per mmBtu, down 0.87%. Crude oil contracts showed a turnover of Rs 5029376 Lacs during this week. Crude oil climbed on firm global cues.

In Metals, Aluminium Aug contract registered a loss of 1.34% , closed at 139.65 per kg on Friday as against Rs. 141.55 per kg on previous Friday’s while Copper Aug future registered a weekly loss of 3.03 % at Rs. 433.25 per kg on Friday after opened at Rs. 447.4 per kg on Monday and Lead Aug future was opened at Rs. 154.5 per kg on Monday and closed at Rs. 151.5 per kg on Friday, registered a weekly gain of 1.69 % over previous Friday’s. Zinc Aug futures lose by 2.13 % at Rs. 188.45 per kg after opened at Rs. 191 per kg on Monday as against previous close of Rs. 192.00 per kg. Nickel Aug future registered a weekly gain of 3.67 % at Rs. 1022.6 per kg on Friday after opened at Rs. 984 per kg on Monday as against previous close of Rs. 986.4 per kg.

In the bullion segment, gold contracts recorded a turnover of Rs 4052635 Lakh, Gold Aug future up by 2.31% at Rs 35577 per 10 grams. Gold prices rose as investors rushed to raise position in safe-haven metal as the selloff in equities continued, while rupee's slide against the US dollar further boosted the yellow metal. Silver Sep future gained by 0.94 % at Rs 42286 per kg.

Agri index witnessed a marginally loss of 0.40% during this week. The Cardamom continued to show upward momentum, gained 20.44% closed at Rs. 4101.30 per kg on Friday against Rs. 3405.20 per kg previous Friday’s while Mentha oil Aug futures gained 0.22% at Rs. 1273.70 per kg and CPO Aug future gained by 0.08 % at Rs. 518.90 per 10 kg. Cotton Aug closed at Rs. 20110 per bales on Friday, registered weekly loss of 4.74% over previous Friday’s.