OIL PRICES DOWN ON SWELLING U.S. STOCKPILES, DEMAND CONCERNS

At the MCX, Crude oil futures for Jun 2019 contract was trading at Rs. 4376.00 per barrel, down by 0.88 per cent, after opening at Rs. 4390.00 per barrel, against a previous close of Rs. 4415.00 per barrel. It touched an intra-day low of Rs. 4360.00 per barrel and high of Rs. 4390.00 per barrel.

Crude oil prices fell on Today in Asia after an industry report showing an increase in U.S. crude stocks and after Saudi Arabia pledged to keep oil markets balanced.

Gold is trading up on Wednesday after two days decline as the dollar strengthened, while signs of an escalation in Sino-U.S. trade tensions weakened risk appetite and limited further declines.

MCXCOMDEX opened with positive note at 3723.30 and traded down by 0.27 per cent at 3706.73. Commodities like Silver, Gold were stood as top gainers, gained by 0.25%,0.18% respectively. On the other hand, CPO, Mentha oil, Crude oil, Copper, Nickel, Zinc, Cotton, Lead, Aluminium, Cardamom, Natural gas futures were stood as top losers, lose by 0.94%, 0.90%, 0.88%, 0.82%, 0.69%, 0.47%, 0.42%, 0.32%, 0.14%, 0.09%, 0.05% respectively.

Domestic Equity market extended gains in the afternoon session to close on the positive side, backed up by gains in Bank, Realty, Auto and Financial Services.NSE Nifty ended 28.80 points or 0.25% up at 11737.90, and BSE Sensex ended with a gain of 140.41 point or 0.36% to 39110.21