OIL PRICES DROP AS RISE US CRUDE OIL STOCK

At the MCX, Crude oil futures for Jun 2019 contract was trading at Rs. 4241.00 per barrel, down by 0.82 per cent, after opening at Rs. 4278.00 per barrel, against a previous close of Rs. 4276.00 per barrel. It touched an intra-day low of Rs. 4226.00 per barrel and high of Rs. 4278.00 per barrel.

Crude oil prices dropped on Thursday, extending falls from the previous session amid surging U.S. crude inventories as low refinery runs and ongoing trade tensions weighed on the demand outlook.

Gold prices traded with negative notes in morning session on Thursday as strong gains in equities eroded the appeal of the yellow metal as a safe-haven asset.

MCXCOMDEX opened with negative note at 3673.26 and traded down by 0.11 per cent at 3670.13. Commodities like Cardamom, Gold, Cotton, Silver, Natural Gas, Mentha oil, Aluminium were stood as top gainers, gained by 4.00%, 0.62%, 0.52%, 0.49%, 0.34%, 0.27%, 0.14% respectively. On the other hand, Zinc, Crude oil, Lead, Nickel, CPO, Copper futures were stood as top losers, lose by 0.83%, 0.82%, 0.72%, 0.45%, 0.43%, 0.22% respectively.

NSE Nifty declined 80.85 points or 0.69% to 11657.05, and BSE Sensex ended with a loss of 298.82 point or 0.76% to 38811.39. Losses in FMCG, metals and information technology shares weighed on the benchmarks.