BASE METALS: LEAD, COPPER, ZINC, FUTURES FALL ON SUBDUED GLOBAL CUES

At the MCX, Lead futures for Sep 2019 contract was trading at Rs. 140.10 per kg, down by 0.74 per cent, after opening at Rs. 155.45 per kg, against a previous close of Rs. 155.40 per kg. It touched the intra-day low of Rs. 153.80 per kg on Tuesday due to subdued demand at the physical market.

Nickel futures declined on Tuesday due to reducing of positions by speculators amid sluggish demand at the spot market. Zinc prices traded lower on Tuesday due to offloading of positions by speculators amid subdued global trend. Copper futures traded 0.88 per cent lower at Rs 454.95 per kg on Tuesday as investors reduced their bets, taking weak cues from the global market.

MCXCOMDEX opened with positive note at 4094.08 and traded down by 0.34% at 4076.02.Commodities like Cardamom, Natural gas, CPO were stood as top gainers, gained 4.00%, 1.36%, 0.23% respectively. On the other hand, Natural Gas, Crude oil, Copper, Lead, Zinc, Cotton, Silver, Aluminium, Gold futures were stood as top losers, lose by 1.50%, 1.39%, 0.88%, 0.74%, 0.67%, 0.30%, 0.21%, 0.18%, 0.04% respectively.

The Nifty opened on negative note today and traded with bearish bias throughout the day. The selling pressure aggravated as the day progressed. At close, Nifty lost 185.90 points or 1.69% to settle at 10817.60 and Sensex slipped 642.22 points or 1.73% to settle at 36481.09 levels.