CRUDE OIL FALLS TO LOWEST SINCE JANUARY ON ECONOMIC SLOWDOWN

At the MCX, Crude oil futures for Jun 2019 contract was trading at Rs. 3655.00 per barrel, down by 1.62 %, after opening at Rs. 3690.00 per barrel, against a previous close of Rs. 3715.00 per barrel. It touched an intra-day low of Rs. 3642.00 per barrel and high of Rs. 3705.00 per barrel.

Oil prices fell on Tuesday as an economic slowdown starts to dent energy demand, but markets won some support after Saudi Arabia said a consensus was emerging with other producers about extending supply cuts.

Gold futures traded lacklustre in morning trading session owing to profit-booking amid subdued demand for the yellow metal by jewellers at spot markets. But It turned into positive after a while trading. Raising of bets by participants on positive cues from global markets mainly pushed up gold prices at future trade.

MCXCOMDEX opened with negative note at 3552.10 and traded down by 0.10 % at 3546.50. Commodities like Cardamom, Natural Gas, Zinc, Aluminium, CPO, Gold, Lead were stood as top gainers, gained by 2.99%, 1.02%, 0.92%, 0.285, 0.23%, 0.22%, 0.10% respectively. On the other hand, Crude oil, Mentha oil, Cotton, Nickel, Copper futures were stood as top losers, lose by 1.62%, 0.53%, 0.23%, 0.10%, 0.01% respectively.

After hitting record highs in the previous session, the benchmark indices ended lower on May 4 on the back of profit booking. NSE Nifty 50 ended 0.55 per cent or 66.90 points lower at 12021.65 and Sensex fell 0.46 per cent or 184.08 points to 40083.54.