WEEKLY COMMODITY REVIEW: MCXCOMDEX FELL 2.58 PC ON WEAK GLOBAL CUES
Total turnover stood at Rs. 17925244 lakh in various futures & option contracts for commodities listed at MCX during the week 23rd to 27th Sep 2019. Commodity markets resumed their weekly loss after posting marginal gains in the previous week. MCX Comdex started the week with positive note and ended at 3898.73, loss of 2.58% over previous Friday‘s close— the index comprise energy, metals and agri items. The Energy index closed at 2759.34, down 5.73% and Metal index down by 1.66% at 5930.85 while the Agri index was down 0.02% at 2893.51.
Energy index stood the top loser among the MCX index, Crude oil for Oct future settled at Rs. 3934 per barrel on Friday, lose by 1.67% over previous Friday’s. Crude oil fell 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. Natural Gas for Oct closed at Rs 171.1 per mmBtu, down 4.94%.
In Base Metals, Aluminium Sep contract recorded a loss of 1.51%, closed at 133.3 per kg on Friday as against Rs. 135.35 per kg on previous Friday’s while Copper Sep future registered a weekly loss of 1.13 % at Rs. 436.15 per kg on Friday and Lead Sep future closed at Rs. 153.45 per kg on Friday and also recorded a weekly also of 1.22 % over previous Friday’s. Zinc Sep futures lose by 0.33 % at Rs. 179.25 per kg. Nickel Sep future registered a weekly lose of 0.04 % at Rs. 1256.1 per kg on Friday as against Rs. 1256.6 per kg on previous Friday’s close.
In the bullion segment, gold contracts recorded a turnover of Rs 4097914 Lakh. Gold Oct future up by 0.39 % at Rs 37750 per 10 gram. But, Gold prices were under pressure as the dollar remained firm. Silver Dec futures lose by 2.71 % at Rs 45517per kg.
Agri index had witnessed a little bit loss of 0.02% after gained 1.56% in last week. Cardamom Oct future gained 6.14% at Rs. 3101.8 per kg on Friday against Rs. 2922.3 per kg previous Friday’s while Mentha oil Sep futures gained 0.81% at Rs. 1247.1 per kg. CPO Sep future gained by 0.33 % at Rs. 548.2 per 10 kg and Cotton Oct closed at Rs. 20010 per bales on Friday, registered weekly gain of 2.14% over previous Friday’s.
