Informist, Tuesday, Nov 29, 2022
By Sandeep Sinha
MUMBAI – Futures contracts of most base metals rose on the Multi Commodity Exchange of India and London Metal Exchange today because of increased risk appetite, amid hopes of easing restrictions in China.
* Sentiment also got a boost by a fall in LME inventory and weakness in the dollar index. A weaker greenback makes dollar-denominated commodities cheaper for buyers of other currencies.
* "Commodities may largely remain positive today on bets that Chinese authorities may be forced to move faster in loosening the curb," Kotak Securities said in a note.
* COPPER prices gained due to short-covering by traders on the domestic bourse. A weaker dollar and a fall in LME stocks by 300 tn also aided prices.
* Investors are looking forward to the Conference Board consumer confidence survey for further cues.
* ALUMINIUM prices slipped due to profit booking by market players on MCX. The expansion of aluminium production capacities in China further weighed on the prices.
* At 1745 IST, on the MCX, the December futures contract of:
–Aluminium was at 206.35 rupees a kg, down 0.1%
–Copper was at 678.10 rupees a kg, up 0.8%
–LEAD was at 184.20 rupees a kg, up 0.2%
–ZINC was at 264.30 rupees a kg, up 0.1%
* Outlook for the evening session on the MCX:
–Aluminium contract seen at 203.80-210.0 rupees a kg
–Copper seen at 670.0-684.0 rupees a kg
–Lead seen at 181.0-187.0 rupees a kg
–Zinc seen at 260.0–266.40 rupees a kg
End
US$1 = 81.72 rupees
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Aditya Sakorkar
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
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© Informist Media Pvt. Ltd. 2022. All rights reserved.
Informist, Tuesday, Nov 29, 2022
By Sandeep Sinha
MUMBAI – Futures contracts of most base metals rose on the Multi Commodity Exchange of India and London Metal Exchange today because of increased risk appetite, amid hopes of easing restrictions in China.
* Sentiment also got a boost by a fall in LME inventory and weakness in the dollar index. A weaker greenback makes dollar-denominated commodities cheaper for buyers of other currencies.
* "Commodities may largely remain positive today on bets that Chinese authorities may be forced to move faster in loosening the curb," Kotak Securities said in a note.
* COPPER prices gained due to short-covering by traders on the domestic bourse. A weaker dollar and a fall in LME stocks by 300 tn also aided prices.
* Investors are looking forward to the Conference Board consumer confidence survey for further cues.
* ALUMINIUM prices slipped due to profit booking by market players on MCX. The expansion of aluminium production capacities in China further weighed on the prices.
* At 1745 IST, on the MCX, the December futures contract of:
–Aluminium was at 206.35 rupees a kg, down 0.1%
–Copper was at 678.10 rupees a kg, up 0.8%
–LEAD was at 184.20 rupees a kg, up 0.2%
–ZINC was at 264.30 rupees a kg, up 0.1%
* Outlook for the evening session on the MCX:
–Aluminium contract seen at 203.80-210.0 rupees a kg
–Copper seen at 670.0-684.0 rupees a kg
–Lead seen at 181.0-187.0 rupees a kg
–Zinc seen at 260.0–266.40 rupees a kg
End
US$1 = 81.72 rupees
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Aditya Sakorkar
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2022. All rights reserved.
