WEEKLY COMMODITY REVIEW: OIL PRICES LOST NEARLY 1.40% FOR THE WEEK, PRECIOUS METAL ENDED WITH STRONG GAINS
During this week, MCXCOMDEX closed 0.11 per cent down at 3545.93 after opened with negative note at 3571.78 on Monday. It made a weekly low of 3508.49 and high of 3576.01. Metal Index stood as the only gainer among the index; gained by 0.28 per cent per cent while Agri index was the top loser ,lose by 1.49 per cent and Energy index lose by 0.08 per cent during this week. Total turnover stood at Rs. 14273127 lakh in various futures & option contracts for commodities listed at MCX during the week June 3rd to 7th, 2019.
Metal index opened at 5172.66 on Monday and closed at 5169.02 on Friday. Most of the commodities were the weekly losers. Aluminium Jun future recorded with a loss of 2.37 per cent after opened at Rs. 145.1per kg on Monday and closed at Rs. 141.9 per kg on Friday. Copper Jun future registered a weekly loss of 1.00 per cent at Rs. 402.9 per kg on Friday after opened at Rs. 406.8 per kg. Lead Jun future was opened at Rs. 150.1 per kg on Monday and closed at Rs. 150.5 per kg on Friday, registered a weekly gain of 0.33 per cent. Zinc May futures lose by 1.48 per cent at Rs. 203.3 per kg after opened at Rs. 207.25 per kg on Monday as against previous close of Rs. 206.35 per kg. Nickel Jun future registered a weekly loss of 3.30 per cent at Rs. 847.6 per kg on Friday after opened at Rs. 876 per kg on Monday as against previous close of Rs. 876.5 per kg.
Gold Aug future registered a weekly gain of 2.08 per cent at Rs. 32936.00 per 10 gm after opened at Rs. 32348.00 per 10 gm as against previous close of Rs. 32266.00 per 10 gm. Gold Price ended the week with marginally higher, supported by trade worries and a possible U.S. rate cut, even as some investors locked in profits in bullion after a recent rally. Silver Jul futures gained by 2.46 per cent to reach at Rs. 37344.00 per kg on Friday.
Energy index closed at 2621.93 on Friday, after opened with negative note on Monday at 2663.29 . Crude oil Jun future has recorded a loss of 1.40 per cent which opened at Rs. 3696 per barrel on Monday and ended at Rs. 3722 per barrel on Friday. Crude oil fell 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. Natural gas Jun future recorded a weekly loss of 5.46 per cent at Rs. 162.9 per mmBtu after opened at Rs. 172.9 per mmBtu on Monday.
Agri index was opened with positive note at 2901.48 on Monday and closed at 2900.43 on Friday, lose by 1.49 per cent. Cardamom Jul future recorded a weekly gain of 3.26 per cent at Rs. 2317.5 per kg. Cotton Jun future was opened with negative note at Rs. 21810 per bales on Monday and closed at Rs. 21280 .00 per bales on Friday, registered weekly loss of 3.32 per cent. CPO Jun future was closed at Rs. 506.5 per 10 kg on Friday registered a weekly loss of 2.46 per cent after opened at Rs 517.1 per 10 kg on Monday as against previous close of Rs. 519.3 per 10 kg. Mentha oil Jun future stood as only loser, recorded a weekly gain of 3.09 per cent at Rs. 1331.5 per kg on Friday.
By RAYRC
