OIL PRICE CLIMBS ON US-CHINA TRADE TALKS, OPEC COMMENTS

At the MCX, Crude oil futures for Oct 2019 contract was trading at Rs. 3865.00 per barrel, up by 2.11 %, after opening at Rs. 3807.00 per barrel, against a previous close of Rs. 3785.00 per barrel. It touched an intra-day low of Rs. 3807.00 per barrel and high of Rs. 3902.00 per barrel.

Oil prices climbed early on Friday, building on gains in the previous session, after producer club OPEC hinted at making deeper cuts in supply while optimism was revived over talks between the United States and China to end their trade war.

Gold prices in India fell sharply for a second day in a row. A weak global trend and a higher rupee weighed on domestic gold price.

MCXCOMDEX opened flat at 3860.00 and traded up by 0.40% at 3879.58 over previous close at 3864.05. Commodities like Crude oil, Lead, Zinc, Nickel, Copper, Cotton, CPO were stood as top gainers, gained 2.11%, 0.70%, 0.57%, 0.41%, 0.34%, 0.15%, 0.09% respectively. On the other hand, Cardamom, Mentha oil, Aluminium, Gold, Silver futures were stood as top losers, lose by 1.76%, 1.15%, 0.74%, 0.25%, 0.12% respectively. Natural Gas Oct future traded on flat note in evening trading session.

Indian benchmark equity indices, the BSE Sensex and NSE Nifty50, ended Friday's volatile trade with gains led by metals, auto and IT shares amid firm global sentiments. The BSE Sensex surged 246.68 points, or 0.65 percent, to settle Friday's trade at 38127.08. The Nifty50 rose 66.70 points, or 0.59 percent, at 11301.25.