CRUDE OIL FUTURE FALLS 0.15% ON MUTED DEMAND

At the MCX, Crude oil futures for Aug 2019 contract was trading at Rs. 3897.00 per barrel, down by 0.15 %, after opening at Rs. 3918.00 per barrel, against a previous close of Rs. 3903.00 per barrel. It touched an intra-day low of Rs. 3888.00 per barrel and high of Rs. 3926.00 per barrel.

Crude oil started with positive note on Tuesday but turned negative in afternoon session after participants tightened their bets tracking a muted in domestic markets.

Gold Prices witnessed a fall in futures trade on today as a rise in equities weighed on the demand for gold as a safe-haven metal. Silver also declined after a slump in demand by industrial units and coin makers at the spot markets.

MCXCOMDEX opened at 3792.11 and traded down by 0.01% at 3791.46. Commodities like Natural Gas, Cardamom, Lead, Cotton, Mentha oil, CPO were stood as top gainers, gained 2.38%, 2.09%, 0.49%, 0.46%, 0.38%, 0.29% respectively. On the other hand, Silver, Gold, Aluminium, Crude oil, Zinc, Copper futures were stood as top losers, lose by 0.58%, 0.53%, 0.21%, 0.15%, 0.08%, 0.01% respectively.

Shrugging off weak global cues, the domestic equity market ended with decent gains on Tuesday ahead of RBI monetary policy announcement. Sensex was up 277.01 points or 0.75% at 36976.85, while Nifty was up 85.65 points or 0.79% at 10948.25.