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WEEKLY COMMODITY REVIEW: MCXCOMDEX GAIN 1.90% FOR THE WEEK AFTER MARGINAL WEEKLY DELCINES

Total turnover stood at Rs. 19891887 lakh in various futures & option contracts for commodities listed at MCX during the week 16th to 20th Sep 2019. Commodity markets resumed their weekly gains after posting marginal decline in the previous week. MCX Comdex started the week with positive note and ended at 4001.83, gains of 1.90% over previous Friday‘s close— the index comprise energy, metals and agri items. The Energy index closed at 2926.91, up 4.94% and Metal index up by 1.13% at 6031.08 while the Agri index was down 0.77% at 2893.51.

Energy index stood the top gainers among the MCX index, Crude oil for Oct future settled at Rs. 4178 per barrel on Friday, gained by 6.36% over previous Friday’s. Oil prices skyrocketed after drone attacks on Saudi oil infrastructure. Natural Gas for Sep closed at Rs 180.1 per mmBtu, down 3.28%.

In Base Metals, Aluminium Sep contract recorded a loss of 0.75%, closed at 138.75 per kg on Friday as against Rs. 139.8 per kg on previous Friday’s while Copper Sep future registered a weekly loss of 3.60 % at Rs. 443.4 per kg on Friday and Lead Sep future closed at Rs. 155.35 per kg on Friday and also recorded a weekly also of 0.38 % over previous Friday’s. Zinc Sep futures lose by 2.45 % at Rs. 183.1 per kg. Nickel Sep future registered a weekly gain of 1.86 % at Rs. 1264.5 per kg on Friday as against Rs. 1241.4 per kg on previous Friday’s close.

In the bullion segment, gold contracts recorded a turnover of Rs 3405726 Lakh ,decline by 17.42%compred to previous week turnover . Gold Oct future up by 0.46 % at Rs 37697per 10 gram. Silver Dec futures gained by 1.54 % at Rs 46465 per kg. Gold Prices remained under pressure after the US Federal Reserve gave no indication of further cuts. Silver has suffered higher losses than gold over the past few days.

In last week, Agri index had witnessed a gain of 1.56% but during this week, it lose by 0.77%. Cardamom Sep future gained 1.10% at Rs. 3050.7 per kg on Friday against Rs. 3017.4 per kg previous Friday’s while Mentha oil Sep futures gained 1.77% at Rs. 1268.7per kg . CPO Sep future gained by 0.22 % at Rs. 554.1 per 10 kg and Cotton Oct closed at Rs. 19820 per bales on Friday, registered weekly loss of 2.21% over previous Friday’s.



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