BASE METALS: NICKEL, ZINC, ALUMINIUM FUTURES UP ON SPOT DEMAND

At the MCX, Nickel futures for Jul 2019 contract was trading at Rs. 993.00 per kg, up by 0.70%, after opening at Rs. 989.90 per kg, against a previous close of Rs. 986.10 per kg. It touched the intra-day high of Rs. 999.80 per kg which stood as the top gainer among the base metals in the evening trading session.

Increase in domestic demand from alloy-makers and firmness in base metals at the spot market influenced nickel prices. Zinc future rose to 191.70 Per kg in future trade today as speculators built up fresh positions, taking positive cues from the spot market.

Copper Jul future was trading down by 0.49% at Rs. 452.80 per kg and Lead current month future opened with negative note and continued to trade lower on the back of lackluster demand at the domestic spot market.

MCXCOMDEX opened with negative note at 3720.58 and traded down by 0.08% at 3718.92. Commodities like Mentha oil, Nickel, CPO, Natural Gas, Cotton, Zinc, Aluminium were stood as top gainers, gained 1.04%, 0.70%, 0.54%, 0.50%, 0.28%, 0.05%, 0.04% respectively. On the other hand, Cardamom, Crude oil, Copper, Gold, Lead, Silver futures were stood as top losers, lose by 1.67%, 0.74%, 0.49%, 0.39%, 0.23%, 0.17% respectively.

Domestic Equity Market slipped for fourth consecutive session on Tuesday as weak corporate earnings, hinting at an economic slowdown, kept investors' sentiment muted. Sensex lost 48.39 points or 0.13% to settle at 37982.74 and Nifty slipped 15.15 points or 0.13% to settle at 11331.05 levels.