CRUDE OIL PRICES UP ON PROSPECT OF US INTEREST RATE CUT

At the MCX, Crude oil futures for Aug 2019 contract was trading at Rs. 3947.00 per barrel, up by 1.08 %, after opening at Rs. 3934.00 per barrel, against a previous close of Rs. 3905.00 per barrel. It touched an intra-day low of Rs. 3933.00 per barrel and high of Rs. 3965.00 per barrel.

Oil prices rose in future trade today as speculators raised their exposure amid positive global along with expectation that the US Federal Reserve will cut interest rates on Wednesday.

Rising demand and a plunge in output drive cardamom prices. Cardamom Aug future stood as the top gainer on today’s trading session.

MCXCOMDEX opened at 3715.33 and traded up by 0.38% at 3729.10.Commodities like Cardamom, Mentha oil, Natural Gas, Crude oil, Silver, CPO, Aluminium, Gold were stood as top gainers, gained 4.00%, 1.51%, 1.23%, 1.08%, 0.40%, 0.18%, 0.11%, 0.03% respectively. On the other hand, Lead, Copper, Cotton, Nickel, Zinc futures were stood as top losers, lose by 1.47%, 0.67%, 0.53%, 0.42%, 0.23% respectively.

Sensex and Nifty ended lower on Tuesday. Both the indices had opened marginally higher on Tuesday morning but slipped heavily in the latter part of the trading session. At close, the Sensex was down 289.13 points or 0.77% at 37397.24, while Nifty was down 103.80 points or 0.93% at 11085.40.