CRUDE OIL FUTURES UP ON US INVENTORY DROP, MIDDLE EAST TENSIONS

At the MCX, Crude oil futures for Aug 2019 contract was trading at Rs. 3937.00 per barrel, up by 0.54 %, after opening at Rs. 3940.00 per barrel, against a previous close of Rs. 3916.00 per barrel. It touched an intra-day low of Rs. 3927.00 per barrel and high of Rs. 3956.00 per barrel.

Oil prices traded higher on Wednesday, supported by a sharp fall in U.S. crude stocks and tensions over Iran.

Gold Prices declined in futures trade on Wednesday on a fall in demand by jewellers at the spot markets, while weakness in the equity market and positive global trend capped the fall of the yellow metal.

MCXCOMDEX opened at 3732.14and traded up by 0.34% at 3745.78.Commodities like Nickel, Mentha oil, Crude oil, Zinc, CPO, Silver, Aluminium, Lead, Copper were stood as top gainers, gained 0.85%, 0.77%, 0.54%, 0.50%, 0.40%, 0.29%, 0.18%, 0.10%, 0.07% respectively. On the other hand, Cardamom, Natural Gas, Cotton, Gold futures were stood as top losers, lose by 1.81%, 1.69%, 0.33%, 0.03% respectively.

Domestic Equity markets continue its downtrend on the fifth consecutive day, dragged by metals banking and automobile stocks on July 24. At close, the Sensex was down 135.09 points or 0.36% at 37847.65, while Nifty was down 59.75 points or 0.53% at 11,271.30.