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CRUDE OIL JUMPS; GOLD, SILVER DOWN

At the MCX, Crude oil futures for Aug 2019 contract was trading at Rs. 3681.00 per barrel, up by 1.10 %, after opening at Rs. 3666.00 per barrel, against a previous close of Rs. 3641.00 per barrel. It touched an intra-day low of Rs. 3666.00 per barrel and high of Rs. 3752.00 per barrel.

Oil jumped more than 1% on Thursday due to expectations that falling prices may lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation of U.S.-China trade tensions.

Under Precious metals, Gold and Silver prices today shed over one percent. Most of the base metals also traded lower while Nickel stood as only gainer in evening trading session among the metals.

MCXCOMDEX opened at 3792.47 and traded down by 0.12% at 3772.11. Commodities like Crude oil, Cotton, CPO, Natural Gas, Mentha oil, Nickel were stood as top gainers, gained 1.10%, 1.05%, 0.70%, 0.60%, 0.54%, 0.35% respectively. On the other hand, Cardamom, Silver, Gold, Zinc, Lead, Copper, Aluminium futures were stood as top losers, lose by 4.00%, 1.23%, 1.20%, 0.59%, 0.58%, 0.27%, 0.21% respectively.

Asian shares rallied after China limited the fall in the yuan. Market closed broadly higher today after media reports suggested that India was likely to exempt foreign portfolio investors from an increase in taxes. At Close, Sensex had risen 636.86 points to 37327.36 level and Nifty ended at 11032.45 at a rise of 176.95 points on Thursday.



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