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CRUDE OIL PRICE FALL ABOVE 2 % AS TRADE WAR WORRIES OUTWEIGH SUPPLY DISRUPTIONS

At the MCX, Crude oil futures for Jun 2019 contract was trading at Rs. 4047.00 per barrel, down by 2.32 % , after opening at Rs. 4123.00 per barrel, against a previous close of Rs. 4143.00 per barrel. It touched an intra-day low of Rs. 4022.00 per barrel and high of Rs. 4123.00 per barrel.

Oil prices fell more than 2% on Wednesday as China signalled it would use the rare earths card in its trade war with the United States, stoking concerns that an ongoing stand-off could hurt crude demand.

Gold prices jumped in futures trade on Wednesday, supported by raised demand by local jewellers at the spot market and positive global trend.

MCXCOMDEX opened with positive note at 3667.32 and traded down by 0.35 per cent at 3654.63.Commodities like Cardamom, Natural gas, CPO, Gold, Silver, Aluminium were stood as top gainers, gained by 4.00%, 2.16%, 0.99%, 0.69%, 0.63%, 0.31% respectively. On the other hand, Crude oil, Copper, Zinc, Mentha oil, Lead, Cotton, Nickel futures were stood as top losers, lose by 2.32%, 0.89%, 0.62%, 0.62%, 0.32%, 0.23%, 0.11% respectively.

BSE Sensex and NSE Nifty 50 Indexes extended losses dragged by weakness in ICICI Bank, State Bank of India, Larsen & Toubro, Maruti Suzuki, HDFC and Bharti Airtel. Sensex ended 0.62 per cent or 247.68 points lower at 39,593 and NSE Nifty 50 Index fell 0.57 per cent or 67.65 points to 11861.10.



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