CRUDE OIL ROSE AFTER ECONOMIC DATA POINTED TOWARDS RECOVERY IN MANUFACTURING ACTIVITIES

At the MCX, Crude Oil futures for Dec contract was trading at Rs. 2878.00 Per Barrel, down by 2.06%, after opening at Rs.2850.00 Per Barrel, against a previous close of Rs. 2820.00 Per Barrel. It touched an intra-day low of Rs. 2793.00 Per Barrel and high of Rs.2904.00 Per Barrel in the future market.

Crude oil rose over 2% after industry data showed crude inventories in the United States dropped sharply.

Gold Futures traded lower on Wednesday as the dollar strengthened after early voting results showed a close contest between President Donald Trump and Democratic rival Joe Biden in the U.S. Presidential election.

Natural gas was trading at 228.80 per mmbtu, 0.22% lower as participants increased their short positions, as seen by the open interest.

Copper Futures plunged by 0.99% to Rs.525.25 Kg as participants cut down their positions amid muted demand in domestic market.

On Multi Commodity Exchange, Commodities like Crude Oil, CPO, Cotton futures were the gainers, gained by 2.06%, 0.57%, 0.31% respectively. While Commodities like Silver, Aluminium, Nickel ,Copper, MCX Bulldex, Gold ,GoldM, Zinc, MCX MEetldex ,Gold Guinea, Gold Petal, Lead, Natural Gas, Mentha Oil futures were the losers with a loss of 1.97%,1.12%, 1.11%, 0.99%, 0.94%, 0.71%, 0.66%, 0.64%, 0.64%, 0.615, 0.56%, 0.23%,0.22%, 0.18% respectively.