CRUDE OIL FUTURES GAIN ON FIRM GLOBAL CUES

At the MCX, Crude oil futures for Jul 2019 contract was trading at Rs. 3855.00 per barrel, up by 1.05 %, after opening at Rs. 3850.00.00 per barrel, against a previous close of Rs. 3815.00 per barrel. It touched an intra-day low of Rs. 3833.00 per barrel and high of Rs. 3873.00 per barrel.

Oil prices rose on Friday as tensions spiked again in the Middle East after the United States said it had destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows.

MCXCOMDEX opened with positive note at 3731.10 and traded up by 0.14% at 3735.07.Commodities like Copper, Silver, Crude oil, Gold, Natural Gas, CPO, Aluminium were stood as top gainers, gained 2.56%, 1.07%, 1.05%, 0.43%, 0.32%, 0.22%, 0.07% respectively. On the other hand, Cardamom, Nickel, Cotton, Mentha oil, Lead, Zinc futures were stood as top losers, lose by 4.00%, 3.16%, 0.37%, 0.33%, 0.03%, 0.03% respectively.

Equity Market ended at two-month low on July 19 after Finance Minister Nirmala Sitharaman dashed hope of a tweak in FPI surcharge. Continued asset quality concerns in Q1 also spooked markets. Nifty 50 ended 177.65 points lower at 11419.25 while Sensex fall 1.44 % or 560.45 points at 38337.01.