WEEKLY COMMODITY REVIEW: CRUDE OIL FUTURES DOWN 7.27% IN THIS WEEK; CARDAMOM, COTTON SURGE ON STRONG DEMAND

During this week, MCXCOMDEX closed 2.10 per cent down at 3576.74 after opened with flat note at 3654.43on Monday. It made a weekly low of 3572.19 and high of 3682.28. Agri Index stood as the only gainer among the index; gained by 1.01 per cent per cent while Energy index was the top loser ,lose by 6.92 per cent and Metal index lose by 0.30 per cent during this week. Total turnover stood at Rs. 13914717.9 lakh in various futures & option contracts for commodities listed at MCX during the week May 27th to 31st, 2019.

Metal index opened at 5190.41on Monday and closed at 5173.11 on Friday. Most of the commodities were the weekly losers. Aluminium Jun future recorded with a loss of 0.27 per cent after opened at Rs. 145.7 per kg on Monday and closed at Rs. 145.35 per kg on Friday. Copper Jun future registered a weekly loss of 2.05 per cent at Rs. 406.95 per kg on Friday after opened at Rs. 416.15 per kg. Lead May future was opened at Rs. 126.55 per kg on Monday and closed at Rs. 124.4 per kg on Friday, registered a weekly loss of 1.58 per cent. Zinc May futures lose by 0.93 per cent at Rs. 211.95 per kg after opened at Rs. 214.6 per kg on Monday as against previous close of Rs. 213.95 per kg. Nickel May future registered a weekly loss of 2.61 per cent at Rs. 840.3 per kg on Friday after opened at Rs. 865.6 per kg on Monday as against previous close of Rs. 862.8 per kg.

Gold Jun future registered a weekly gain of 1.80 per cent at Rs. 32098.00 per 10 gm after opened at Rs. 31555.00 per 10 gm as against previous close of Rs. 31530.00 per 10 gm. Gold ended the week with positive not, supported by strong demand by jewelers at spot markets and firm global cues. Silver Jul futures gained by 0.18 per cent to reach at Rs. 36449.00 per kg on Friday.

Energy index closed at 2676.19 on Friday, after opened with positive note on Monday at 2876.23. Crude oil Jun future has recorded a loss of 7.27 per cent which opened at Rs. 4092 per barrel on Monday and ended at Rs. 3775 per barrel on Friday. Oil fell as comments from U.S. President Donald Trump ramped up trade tensions, weighing on the demand outlook. Natural gas Jun future recorded a weekly loss of 5.43 per cent at Rs. 172.3 per mmBtu after opened at Rs. 182.5 per mmBtu on Monday.

Agri index was opened with positive note at 2874.71 on Monday and closed at 2900.43 on Friday, gained by 1.01 per cent. Cardamom Jun future recorded a weekly gain of 7.06 per cent at Rs. 2449.3 per kg. Cotton May future was opened with flat note at Rs. 21590 per bales on Monday and closed at Rs. 22410.00 per bales on Friday, registered weekly gain of 4.04 per cent. CPO May future was closed at Rs. 518.3 per 10 kg on Friday registered a weekly gain of 2.11 per cent after opened at Rs 508 per 10 kg on Monday as against previous close of Rs. 507.6 per 10 kg. Mentha oil May future stood as only loser, recorded a weekly loss of 3.16 per cent at Rs. 1431.7 per kg on Friday.