COMMODITY MARKET: ENERGY INDEX TRADE NEGATIVELY; NATURAL GAS FUTURES SLUMP 3.36%

Commodity prices traded mixed as recovery seen in gold prices while Crude oil prices traded under pressure. Currently, Kapas, CPO, Nickel, Zinc, Silver, Cotton, Mentha oil, Aluminium, Gold were trading positively .At the same time, Natural Gas, Lead, Crude oil, Copper were trading negatively.

BULLION:

MCXBULLDEX was trading up by 0.44% at 14290.Yellow metals extended their gains in domestic commodity market amid a similar trend in global markets. On MCX, gold Apr futures were up 0.25% to ₹44861 per 10 gram after rising to ₹44964 at day's high. Silver futures had also pared early gains and were up 0.82% to ₹67390 per kg. In global markets, gold rates had pared early gains as the passage of a US stimulus bill raised concerns over inflation risks.

ENERGY:

The energy commodity turned negative in afternoon session after trading with positively in morning session. In future market, Crude oil for March delivery touched a day’s low of Rs 4751 per barrel .Currently this future was trading lower by 0.77% at Rs. 4760 per barrel on MCX. Natural gas futures tumbled to Rs 183.50 per mmBtu as participants increased their short positions as seen by the open interest. The energy extended decline in the afternoon after a gap-down start tracking weak global trends.

BASE METAL:

Base metals complex traded mixed on Today. Nickel and Zinc were trading with gains of nearly 1 % and Aluminium future was trading with minor gains of 0.35% while the rest of the base metals like Lead and copper fell by 1.15% and 0.19% respectively. MCXMELTDEX Mar delivery traded up by 0.52% at Rs. 13848 unit.

AGRI :

Agri commodities made strong gains as Kapas, CPO, Cotton and Mentha oil were trading with positive note throughout the session. Kapas stood as top gainer, gained by 1.87% . Followed by CPO, Cotton, and Mentha oil jumped by 1.43%, 0.59%, 0.39% respectively.