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OIL FALLS FOR 2ND DAY AFTER TRUMP DOUSES TRADE TALK OPTIMISM

At the MCX, Crude oil futures for Oct 2019 contract was trading at Rs. 4135.00 per barrel, down by 0.39 %, after opening at Rs. 4080.00 per barrel, against a previous close of Rs. 4083.00 per barrel. It touched an intra-day low of Rs. 4004.00 per barrel and high of Rs. 4080.00 per barrel.

Oil prices fell on Wednesday for a second day on worries that fuel demand could fall after US President Donald Trump doused recent optimism over China-US trade talks and reignited concerns about global economic growth.

Gold prices rebounded after a weak opening in the futures trade on September 25, continuing the up move further on increased buying for safe-haven assets ahead of the festival demand.

MCXCOMDEX opened flat at 3965.83 and traded down by 0.31% at 3953.10 over previous close at 3965.44. Commodities like Cardamom, Cotton, CPO, Silver, Gold were stood as top gainers, gained 4.00%, 0.67%, 0.44%, 0.21%, 0.07% respectively. On the other hand, Crude oil, Zinc, Aluminium, Copper, Mentha oil, Nickel, Lead futures were stood as top losers, lose by 1.45%, 0.49%, 0.47%, 0.41%, 0.25%, 0.10%, 0.03% respectively.

Political uncertainty in the US, across-the-board selling and signal of an Asia wide slowdown from the Asian Development Bank weighed on the domestic equity market on Wednesday. At close, Sensex lose 503.62 points or 1.29% to settle at 38593.52 while Nifty slipped 148.00 points or 1.28% to settle at 11440.20 levels.



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