WEEKLY COMMODITY REVIEW: MCX COMDEX UP NEARLY 2%

Total turnover stood at Rs. 15808595 lakh in various futures & option contracts for commodities listed at MCX during the week June 17th to 21st, 2019. MCX COMDEX at 3657.67 points was up 2.54% on the previous close, Agri-Index by 0.23% at 2879.41 points, Metal Index by 1.76% at 5312.19 points and Energy Index by 5.35% at 2758.05 points.

All contracts traded on MCX clocked substantial rise in various commodities. Cardamom futures stood as the best performer of this week. Only Natural Gas, Aluminium, Lead, Zinc, Cotton and Mentha oil looked down during the week.

In the Energy segment, Crude oil Jul contract gained 8.27% at Rs. 4017 per barrel. Oil prices rallied on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than 20% of the world’s oil output. But, Natural gas Jul future recorded a weekly loss of 8.84 % at Rs. 152.70 per mmBtu after opened at Rs. 168.30 Per mmBtu on Monday.

Metal index opened at 5220.33 on Monday and closed at 5312.19 on Friday. Most of the commodities were the weekly losers. Aluminium Jun future recorded with a loss of 0.88 % after opened at Rs. 142.5 per kg on Monday and closed at Rs. 140.95 per kg on Friday. Copper Jun future registered a weekly gain of 2.26 % at Rs. 415.65 per kg on Friday after opened at Rs. 406.8 per kg. Lead Jun future was opened at Rs. 153.9 per kg on Monday and closed at Rs. 152.7 per kg on Friday, registered a weekly loss of 0.55 %. Zinc May futures lose by 2.11 % at Rs. 199.4 per kg after opened at Rs. 203.35 per kg on Monday as against previous close of Rs. 203.7 per kg. Nickel Jun future registered a weekly gain of 0.34 % at Rs. 879.8 per kg on Friday after opened at Rs. 877 per kg on Monday as against previous close of Rs. 876.8 per kg.

In the bullion segment, gold contracts clocked a turnover of Rs 3319936 Lakh, Gold Aug future went up by 3.40% at Rs 34167 per 10 grams. Gold prices surged after the US Federal Reserve signalled possible rate cuts later this year. Silver Jun future rose by 2.48 % at Rs 37954 per kg.

Agri index was opened with negative note at 2865.9 on Monday and closed at 2879.41 on Friday. Cardamom Jul future recorded a weekly gain of 16.19 % at Rs. 2884.5 per kg. Cotton Jul future was opened with negative note at Rs. 21630 per bales on Monday and closed at Rs. 21620.00 per bales on Friday, registered weekly loss of 0.18%. CPO Jun future was closed at Rs. 510 per 10 kg on Friday registered a weekly gain of 0.73 % after opened at Rs 506.3 per 10 kg on Monday as against previous close of Rs. 506.3 per 10 kg. Mentha oil Jun future lose 4.81% at Rs. 1259.4 per kg.