WEEKLY COMMODITY REVIEW: MCX COMDEX ENDED UP; CRUDE OIL, CARDAMOM GAINED 2.08 PC, 7.86 PC

During this week, MCXCOMDEX closed 0.94 per cent up at 3744.44 after opened with flat note at 3775.88 on Monday. It made a weekly low of 3686.54 and high of 3759.14. Energy Index stood as the top gainer among the index; gained by 2.41 per cent per cent while Metal index gained by 0.44 per cent and Agri index lose by 0.37 per cent during this week. Total turnover stood at Rs. 15146211 lakh in various futures & option contracts for commodities listed at MCX during the week May 13th to 17th, 2019.

Energy index closed at 3102.54 on Friday, after opened with flat negative note on Monday at 3028.27. Crude oil May future has recorded a gain of 2.08 per cent as fears of supply disruptions amid heightened tensions in the Middle East overshadowed swelling U.S. crude inventories which opened at Rs. 4326 per barrel on Monday and ended at Rs. 4416.00 per barrel on Friday. Natural gas May future recorded a weekly gain of 1.09 per cent at Rs. 186.1 per mmBtu after opened at Rs. 184.1 per mmBtu on Monday.

Metal index opened at 5161.33 on Monday and closed at 5184.73 on Friday. Aluminium May future has registered a gain of 1.43 per cent after opened at Rs. 147.3 per kg on Monday and closed at Rs. 149.4 per kg on Friday. Copper Jun future registered a weekly loss of 0.29 per cent at Rs. 428.25 per kg on Friday after opened at Rs. 429.5 per kg. Lead May future was opened at Rs. 127.00 per kg on Monday and closed at Rs. 128.00 per kg on Friday, registered a weekly gain of 0.79 per cent. Zinc May futures gained by 0.33 per cent at Rs. 215.35 per kg after opened at Rs. 214.65 per kg as against previous close of Rs. 215.35 per kg on the back of higher demand at the domestic spot market. Nickel May future registered a weekly gain of 0.99 per cent at Rs. 845.5 per kg on Friday after opened at Rs. 837.2 per kg on Monday as against previous close of Rs. 838.4 per kg.

Gold Jun future registered a weekly loss of 0.61 per cent at Rs. 31791.00 per 10 gm after opened at Rs. 31987.00 per 10 gm as against previous close of Rs. 31904.00 per 10 gm. Gold Prices fell on a firmer dollar and increased investor appetite for riskier assets due to strong US data and corporate results. Silver Jul futures lose by 1.95 per cent to reach at Rs. 36577.00 per kg on Friday.

Agri index was opened with negative note at 2888.82 on Monday and closed at 2896.53 on Friday, lose by 0.37 per cent. Cardamom Jun future recorded a weekly gain of 7.86 per cent at Rs. 2321.1 per kg amid higher demand in domestic commodity market. Cotton May future was opened with negative note at Rs. 21320 per bales on Monday and closed at Rs. 21270.00 per bales on Friday, registered weekly loss of 0.23 per cent. CPO May future was closed at Rs. 526.4 per 10 kg on Friday registered a weekly loss of 1.62 per cent after opened at Rs 518 per 10 kg on Monday as against previous close of Rs. 518.2 per 10 kg. Mentha oil May future registered a weekly loss of 1.33 per cent at Rs. 1397.40 per kg on Friday.