OIL PRICES FALL AS OPEC+ TALKS OUTPUT COMPLIANCE, NOT CUTS

At the MCX, Crude oil futures for Sep 2019 contract was trading at Rs. 3908.00 per barrel, down by 2.47 %, after opening at Rs. 4019.00 per barrel, against a previous close of Rs. 4007.00 per barrel. It touched an intra-day low of Rs. 3886.00 per barrel and high of Rs. 4024.00 per barrel.

Oil prices fell on Thursday as a meeting of the OPEC+ alliance yielded no discussion about deepening supply cuts but focused instead on bringing Nigerian and Iraqi output down to their agreed quotas.

Gold prices traded on positive note as the European Central Bank announces significant monetary policy easing actions, in line with expectations.

MCXCOMDEX opened with positive note at 3960.15 and traded down by 0.48% at 3938.78.Commodities like Cardamom, Silver, Cotton, Copper, Nickel, Gold were stood as top gainers, gained 1.49%, 0.85%, 0.56%, 0.53%, 0.41%,0.28% respectively. On the other hand, Natural Gas, CPO, Mentha oil, Zinc, Aluminium, Lead futures were stood as top losers, lose by 1.80%, 0.39%, 0.36%, 0.32%, 0.29%, 0.03% respectively.

After trading flat for most part of the session, benchmark indices witnessed sharp decline in the fag-end of the trade on Thursday as investors turned cautious ahead of European Central Bank's (ECB) policy meeting later in the day. It is widely expected that the ECB will deliver stimulus to arrest a slowing global economy. At close, Sensex lost 166.54 points or 0.45% to settle at 37104.28 and Nifty slipped 52.90 points or 0.48% to settle at 10982.80 levels.