OIL RISES ON OUTPUT CUTS

All the commodities trade higher after opened positively.

Crude oil Mar future is trading 2.71% up at Rs. 4555 per barrel. Oil price rises on a slow return of US crude output cut by frigid conditions and as an approaching meeting by top producers is expected to keep production largely reined in, pointing to tight global supply.

MCX Gold prices trade with strength after several days. Prices moved up after a downwards consolidation. However, the near term trend remains sideward as long as it sustains below 47000.Gold Apr future is trading 0.06% higher at Rs. 46930 per 10 gm. Silver Mar future is trading up by 0.22% to Rs.70589 per kg.

Base metals commodities trade positively. Nickel up by 1.27% and Copper jump 1.11% at Rs. 706.45 per kg. MCX Copper price continued to remain in the strength. Strong helped the price to remain in the green throughout the session.