Commodity Mcx Tips

On 29th March 2011 (Tuesday), the domestic commodity markets closed on a negative note. All 4 indexes on MCX trading in the negative zone compared to the previous close price. Yesterday, in the MCX future, MCXCOMDEX closed at 3,519.16 down by 0.43%, while MCXMETAL closed at 4,493.24 down by 0.09%, MCXENERGY closed at 3,315.23 down by 0.70% and MCXAGRI closed at 2,682.71 down by 1.45%.

The top gainers at MCX were Lead for March contract (2.25%), Lead Mini for March contract (2.25%), Lead Mini for May contract (1.92%), Lead for April contract (1.83%) and Lead Mini for April contract (1.75%).

Similarly the top losers at MCX were Natural Gas for June contract (-5.33%), Natural Gas for April contract (-5.27%), Platinum for March contract (-4.0%), Mentha Oil for April contract (-2.62%) and Natural Gas for June contract (-2.25%).

Yesterday at MCX, the top traded commodities in terms of quantity were Crude Oil for April contract with 137,095 lots, Silver M for April contract with 114,318 lots, Copper for April contract with 107,695 lots, Silver for May contract with 76,110 lots, Silver MIC for April contract with 63,386 lots and Nickel for March contract with 41,474 lots.

On the domestic arena, at MCX Crude Oil for September contract closed at INR 4,916.00. It touched a high of INR 4,950.00 and a low of INR 4,892.00 after opening at INR 4,938.00. Crude Oil for August contract closed at INR 4,903.00, it touched a high of INR 4,916.00 and a low of INR 4,849.00 after opening at INR 4,892.00.

Gold for October contract closed at INR 21,592.00, it touched a high of INR 21,634.00 and a low of INR 21,547.00 after opening at INR 21,620.00. Gold for August contract closed at INR 21,262.00, it touched a high of INR 21,325.00 and a low of INR 21,547.00 after opening at 21,620.00.

Silver for December contract closed at INR 57,458.00, it touched a high of INR 57,696.00 and a low of INR 57,170.00 after opening at INR 57,500.00. Silver for September contract closed at INR 56,499.00, it touched a high of INR 56,677.00 and a low of INR 56,129.00 after opening at INR 56,451.00.

In the last couple of months, silver prices have shown an increasing trend. The price has grew from Rs 43,080 a kilogram to Rs 55,820, a rise of Rs 12,740, or 30% (from January 27), since the Jasmine Revolution started.

Gold increased its sheen on safe haven buying due to unrest in Libya coupled with earthquake and tsunami in Japan. Also, the euro zone debt crisis caused the metal to rise.

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Gold for April contract, at MCX, is trading at Rs.20,822.00 per 10 grams, up by 0.16%, after opening at Rs. 20,806.00 against the previous close price of Rs. 20,788.00 with intra-day high of Rs. 20,829.00 till the trading. (At 11:12 AM today).

Silver for May contract, at MCX, is trading at Rs.55,467.00 (up by 0.30%) after opening at Rs. 55,400.00 against the previous close of Rs. 55,302.00 with intra-day high of Rs. 55,524.00 till the trading. (At 11:11 AM today).

At MCX, copper future for April contract is trading at Rs. 438.50 per kg, up by 0.01%, after opening at Rs. 438.50 against the previous close price of Rs. 438.50. (At 11:08 AM today).

At MCX, Lead future for March contract is trading at Rs. 121.25 per kg, up by 0.25%, after opening at Rs. 121.10 against the previous close price of Rs. 120.95. (At 11:08 AM today).

At MCX, Nickel future for March contract is trading at Rs. 1,215.00 per kg, up by 0.10%, after opening at Rs. 1,216.00 against the previous close price of Rs. 1,213.00. (At 11:05 AM today).

Natural gas futures surged in the domestic market due to firm global cues. April future advanced as much as 3.74% to $4.403 per mmBtu yesterday in New York on colder than normal weather forecast in the eastern U.S. from March 30 to April 7, boosting demand for the heating fuel oil. The low temperature in New York will be 26 degrees Fahrenheit (minus 3 Celsius) tomorrow, 12 degrees below normal, according to AccuWeather Inc. in State College, Pennsylvania.

At Multi Commodity Exchange (MCX), natural gas future for March contract is trading at Rs. 197.80 per mmBtu, up by 2.81%, after opening at Rs. 193.30 against the previous close price of Rs. 192.40. It touched the intra-day high of Rs. 199.70 per mmBtu till the trading. (At 11:04 AM today).

MCX, crude future for April contract is trading at Rs. 4,743.00, up by 0.17%, after opening at Rs. 4,736.00 against the previous close price of Rs. 4,735.00 per barrel. (At 11:02 AM today).

On 25th March 2011 (Friday), the domestic commodity markets closed on a positive note. All 4 indexes on MCX trading in the positive zone compared to the previous close price. Yesterday, in the MCX future, MCXCOMDEX closed at 3533.40 up by 0.19%., while MCXMETAL closed at 4501.32 up by 0.07% , MCXENERGY closed at 3319.16 up by 0.60% and MCXAGRI closed at 2732.73 up by 0.08%.

At NCDEX, the Dhaanya, an agri commodity benchmark index, was closed at 1135.13 up by 0.59%.

Despite bearish trend in London Metal Exchange (LME).Nickel and select copper prices declined in an otherwise lackluster non-ferrous metal market on stockists offering.

Yesterday at the MCX, the market breadth was Negative with 33 commodities advanced and 50commodities declined. wherein at NCDEX the market breadth was positive note with 114 commodities advanced and 70 commodities declined.

The top gainers at MCX were Kapas for April contract (3.78%), Iron Ore for May contract (3.06%), Natural Gas for May contract (1.64%), Natural Gas for March contract (1.58%) and ref Soy Oil for May contract (1.58%).

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Currently, Domestic commodities markets are trading with positive note. Most of the indices are showing upward trend on Multi Commodity Exchange (MCX) except MCXAGRI. At MCX futures, MCXCOMDEX is trading at 3,517.17 (up by 0.71%), MCXENERGY is trading at 3,274.06 (up by 1.41%), MCXMETAL is trading at 4,460.09 (up by 0.50%), and MCXAGRI is trading at 2,820.79 (up by 0.27%). (At 02:56 PM today).

On the domestic front, Potato futures prices declined today due to profits booking by the speculators at existing price level. June future fell by Rs. 21.3, or 3.61%, to Rs. 567.40 per 100 kgs, while May future declined by Rs. 22.4, or 3.67%, to Rs. 5587.30 per 100 kgs on the Multi Commodity Exchange (MCX) as speculators reduced their long positions on the back of tracking weaker trend in the spot market. Moreover, increased fresh arrivals from the major producing regions also kept the futures prices in negative zone.

At Multi Commodity Exchange (MCX), potato future for June contract is trading at Rs. 570.00 per 100 kgs, down by 3.18%, after opening at Rs. 592.10 against the previous close price of Rs. 588.70. It touched the intra-day low of 567.40 till the trading. (At 02:54 PM today).

The top gainers at MCX are Crude Palm Oil for June contract (2.31%), Natural gas for May contract (1.78%), Silver for September contract (1.64%), Crude Oil for July contract (1.61%) and Mentha Oil for March contract (1.56%). (At 02:53 PM today).

The top losers at MCX are Platinum Mum for June contract (-3.68%), Potato for May contract (-3.23%), Potato for June contract (-3.18%), Wheat for April contract (-3.0%) and Cardamom for July contract (-2.46%). (At 02:51 PM today).

The top gainers at NCDEX are Castor Seeds for June contract (3.53%), Castor Seeds for April contract (2.61%), Maize Feed for July contract (2.40%), Castor Seeds for May contract (2.15%) and Pepper for August contract (1.88%). (At 02:50 PM today).

The top losers at NCDEX are Potato for June contract (-4.0%), Potato for July contract (-3.99%), Potato for August contract (-3.87%), Potato for April contract (-2.99%) and Potato for May contract (-2.85%). (At 02:48 PM today).

Crude oil futures surged in the domestic market on the Back of following firm global cues. April future advanced as much as 1.87% to Rs. 4,720.00 per barrels on the Multi Commodity Exchange (MCX) today. May future climbed as much as 2.37% to $104.27 per barrels on the New York Mercantile Exchange (NYMEX) as the U.S., U.K., Italy and France launched a military operation against the Libyan leader Muammar Qaddafi’s air force, boosted the concern of supply disruption from North Africa and Middle East countries. Speculators enhanced their bullish bets on expectation that political violence will spread to other part of Middle East.

The oil production in Libya has dropped to less than 400,000 barrels a day, according to the statement of Shokri Ghanem, chairman of Libya’s National Oil Co., on March 19.

At Multi Commodity Exchange (MCX), crude oil future for April contract is trading at Rs. 4,701.00 per barrel, up by 1.45%, after opening at Rs. 4,660.00 against the previous close price of Rs. 4,633.00. It touched the intra-day high of Rs. 4,720.00 till the trading. (At 02:45 PM today).

Crude oil for May future, at NYMEX, is trading at $103.59 per barrel, up by $1.74, after opening at $103.02 against the previous close price of $101.85. It touched the intra-day high of $104.27 with a business volume of 25,526 lots till the electronic trading. (At 02:43 PM today).

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The top traded commodities in terms of quantity were Crude oil for March contract with 186,933 lots, Silver M for April contract with 138,695 lots, Copper for April contract with 137,839 lots, Silver for May contract with 103,179 lots and Silver MIC for April contract with 73,542 lots.

On the domestic front, Cardamom futures advanced in the domestic market on the back of pick-up in spot demand. Speculators increased their long positions at the lower price level, amid strengthening in demand. April future surged by Rs. 33.4, or 3.0%, to Rs. 1,147.00 per kg on the Multi Commodity Exchange (MCX). Moreover, restricted arrivals from the major producing regions also kept the prices in positive zone yesterday.

At Multi Commodity Exchange (MCX), Cardamom future for April contract closed at Rs. 1,140.60 per kg, up by 2.42%, after opening at Rs. 1,116.00 against the previous close price of Rs. 1,113.00. It touched the intra-day high of 1,147.00.

Yesterday, Copper futures prices gained for the first time in six days on the back of following firm global cues. March future surged as much as 2.57% to 427.75 per kg on the Multi Commodity Exchange (MCX). Copper for three month delivery advanced on the London Metal Exchange (LME) due to speculation that copper demand will rise in next three to six months due to reconstruction needs in Japan after the world’s strongest earthquake struck in the country.

Demand for copper and lead are expected to rise in near future on power line and transformer replacement, as well as need for generators and batteries in Japan. Copper is the best non-precious metal conductor of electricity which is used in power generation, transmission of electricity. It also used in construction industry for plumbing, roofing and cladding purpose.

At Multi Commodity Exchange (MCX), copper future for April contract closed at Rs. 421.65 per kg, up by 1.11%, after opening at Rs. 418.45 against the previous close price of Rs. 417.00. It touched the intra-day high of Rs. 427.75 per kg with a business volume of 137,839 lots.

While, copper future for May contract, at COMEX, closed at $4.1975 a pound, up by 1.46%, after opening at $4.1900 a pound against the previous close price of $4.1370 a pound. It touched the intra-day high of $4.2700 with a business volume of 57,238 lots.

At Multi Commodity Exchange (MCX), natural gas future for March contract closed at Rs. 179.30 per mmBtu, up by 0.33%, after opening at Rs. 180.40 against the previous close price of Rs. 178.70 per mmBtu. It touched the intra-day high of Rs. 181.70 with a business volume of 31,769 lots.

At Multi Commodity Exchange (MCX), crude oil future for March contract closed at Rs. 4,444.00 per barrel, down by 0.47%, after opening at Rs. 4,440.00 against the previous close price of Rs. 4,465.00. It touched the intra-day low of Rs. 4,382.00 with a business volume of 186,933 lots.

Crude oil for April future, at NYMEX, closed at $97.98 per barrel, up by 80 cents, after opening at $97.40 against the previous close price of $97.18. It touched the intra-day high of $99.60 with a business volume of 388,736 lots.

The Energy Information Administration (EIA) reported yesterday that U.S. oil stockpiles increased by 1.7 million barrels in the week ended March 3, 2011 against the forecasts of 2.5 million barrels rise in the stockpiles.

Currently, Domestic commodities markets are trading with positive note. Most of the indices are showing upward trend on Multi Commodity Exchange (MCX) except MCXMETAL. At MCX futures, MCXCOMDEX is trading at 3,418.30 (up by 0.15%), MCXENERGY is trading at 3,153.53 (up by 0.40%), MCXAGRI is trading at 2,782.58 (up by 0.24%), and MCXMETAL is trading at 4,342.82 (down by 0.05%). (At 11:25 AM today).

On the domestic front, Cardamom futures are trading with negative note on the back of profits booking by the speculators. Speculators reduced their long positions at the existing price level, amid weakening in demand. April future dropped by Rs. 10.6, or 0.92%, to Rs. 1,130.00 per kg on the Multi Commodity Exchange (MCX). Moreover, increased arrivals from the major producing regions also kept the prices in negative zone today.

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Gold prices edged higher on stronger demand for safe-haven assets, while platinum and palladium tumbled as Japanese car makers shut production in the wake of a massive natural disaster. Gold benefited from heightened uncertainty as Japan scrambled to avert a meltdown at a stricken nuclear plant on Monday after a hydrogen explosion at one reactor and exposure of fuel rods at another. 

Now technically market is trading in the range as RSI for 18days is currently indicating 55.88, where as 50DMA is at 20579.28 and gold is trading above the same and getting support at 20938 and below could see a test of 20878 level, And resistance is now likely to be seen at 21066, a move above could see prices testing 21134.

Trading Ideas:

Gold trading range is 20878-21134.

Gold prices edged higher on stronger demand for safe-haven assets

Spdr gold trust holdings fell by 1.83 tonnes to 1213.65 tonnes

ETF Securities: Gold-backed ETCs boosted by $250m in past 4 weeks

Silver ended slightly weak but recover almost all of its losses on brisk buying for seasonal demand, amid a firm global trend. Silver recovered near to the peak level as trading sentiments bolstered after precious metals came in demand in the global market in the aftermath of Japan's strongest earthquake and intensifying violence in Libya. Silver's pattern remains bullish however it will need a catalyst to push it above the recent 54500 high. With the RSI at just 70, there is still room before the metal reaches overbought levels and we would not be surprised to see another push higher. 

Now technically market is trading in the range as RSI for 18days is currently indicating 70.05, where as 50DMA is at 47679.4 and silver is trading above the same and getting support at 53621 and below could see a test of 53268 level, And resistance is now likely to be seen at 54336, a move above could see prices testing 54698.

Trading Ideas:

Silver trading range is 53268-54698.

Silver ended slightly weak but recover almost all of its losses on brisk buying for seasonal demand

Silver is having resistance at 54335 and support at 53620 level.

In spot silver looks to hold support at 35.20$ and resistance at 35.88$

Crude oil ended nearly flat as concerns of a drop in Japan's economic activity weighed against views that additional oil products will be needed to generate electricity in the country. Worries about lower demand from Japan after last week's devastating earthquake limited the day's gains. Libya's National Oil Corporation has called on employees to return to work at oil installations and hoped oil production can soon increase. Saudi Arabia and other OPEC producers have increased production, partly to offset the drop in Libyan exports. 

Now technically market is trading in the range as RSI for 18days is currently indicating 55.97, where as 50DMA is at 4316.56 and crude is trading above the same and getting support at 4481 and below could see a test of 4418 level, And resistance is now likely to be seen at 4582, a move above could see prices testing 4620.

Trading Ideas:

Crude trading range is 4418-4620.

Crude oil ended nearly flat as concerns of a drop in Japan's economic activity weighed

Crude looks to test support at 4481 and resistance is seen at 4582.

Saudi Arabia and other OPEC producers have increased production, partly to offset the drop in Libyan exports

Shyam Advisory

Currently, Domestic commodities markets are trading with negative note. All the indices are showing downward trend on Multi Commodity Exchange (MCX). At MCX futures, MCXCOMDEX is trading at 3,557.27 (down by 0.21%), MCXMETAL is trading at 4,470.55 (down by 0.17%), MCXENERGY is trading at 3,336.74 (down by 0.03%), and MCXAGRI is trading at 2,881.14 (down by 0.83%). (At 05:27 PM today).

At NCDEX, the Dhaanya, an agri commodity index, closed at 1,113.32, up by 0.15% (At 05:00 PM today).

Potato futures prices advanced in the domestic market due to firm spot demand in order to meet the ongoing marriage season demand in India. March future surged by Rs. 17.8, or 2.48%, to Rs. 732.80 per 100 kgs, while April future climbed by Rs. 26.7, or 3.99%, to Rs. 732.80 per 100 kgs on the Multi Commodity Exchange (MCX) today. Moreover, restricted fresh arrivals from the major producing regions also kept the futures prices in positive zone.

At Multi Commodity Exchange (MCX), potato future for March contract closed at Rs. 728.80 per 100 kgs, up by 1.93%, after opening at Rs. 718.30 against the previous close price of Rs. 715.00. It touched the intra-day high of 732.80. (At 05:00 PM today).

The top gainers at MCX are Potato for April contract (3.65%), Potato for May contract (3.14%), Potato for March contract (1.93%), Natural gas for March contract (1.77%) and Potato TRWR for May contract (1.69%). (At 05:23 PM today).

The top losers at MCX are Kapas for April contract (-4.00%), Nickel for May contract (-3.59%), Nickel for March contract (-3.18%), Nickel for April contract (-3.11%) and Wheat for April contract (-3.00%). (At 05:22 PM today).

The top gainers at NCDEX are Natural gas for March contract (4.00%), Potato for March contract (4.00%), Potato for June contract (4.00%), Potato for May contract (3.8%) and Potato for July contract (3.8%). (At 05:20 PM today).

The top losers at NCDEX are Nickel for March contract (-8.3%), Kapas for March contract (-4.00%), Kapas for April contract (-4.00%), Castor seed for May contract (-3.8%) and Castor seed for April contract (-3.7%). (At 05:18 PM today).

Base metals fell in the local non-ferrous market today due to tracking weak global cues. Trading sentiments also weakened on the back of profits booking by the speculators on subdued industrial demand. Nickel future for March contract fell as much as 4.41% to Rs. 1,187.70 per kg on the Multi Commodity Exchange (MCX). While, Zinc future for March contract dropped 3.40% to Rs, 104.85, and Lead for March contract dropped 2.01% to Rs. 114.55 per kg on MCX.

By Shyam Advisory : At Shyam Advisory (SA), Nickel future for three month delivery fell 2.5% to $26,803 a ton, while Zinc declined 0.2% to $2,553 a ton on speculation that persisting unrest in Libya will hamper the global economic growth, reducing demand for industrial metals. Moreover, lead for three month delivery also dropped 1.7% to $2,340 a ton at LME.

Moreover, the concern about rising inflation due to higher crude oil price, traded above $100 per barrel, increased the speculation that China and European Union will tight the monetary policy in order to curb the inflation. Therefore, any tightening of monetary policy further by the People Bank of China and ECB could create a downward risk over base metals as demand for industrial metals will slowdown.

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Currently, Domestic commodities markets are trading with positive note. All the indexes at Multi Commodity Exchange (MCX) are showing upward trend. At MCX futures, MCXCOMDEX is trading at 3,567.69 (up by 0.47%), MCXMETAL is trading at 4,515.29 (up by 0.40%), MCXAGRI is trading at 2,909.84 (up by 0.08%), and MCXENERGY is trading at 3,305.79 (up by 0.74%). (At 11:29 AM today).

At NCDEX, the Dhaanya, an agri commodity index, is currently trading at 1,128.24, down by 0.3% (At 11:27 AM today).

On the domestic front, crude oil futures are trading with positive note on the back of persisting unrest in Libya, boosting concern that political tensions will spread to other North Africa and Middle East energy exporters. April future surged as much as $2.51 to $104.42 per barrel in the New York on Friday as Libyan leader Muammar Qaddafi sent troops to recapture towns in the western part of the country and prepared to quash protest in the capital.

Moreover, signs of U.S. economic recovery also boosted the demand outlook for oil in the country, as the Department of Labor showed yesterday that the U.S. unemployment rate declined to 8.9%, the lowest level since April 2009, boosting optimistic view of U.S. economic.

At MCX, crude future for March contract is trading at Rs. 4,736.00, up by 0.81%, after opening at Rs. 4,705.00 against the previous close price of Rs. 4,698.00 per barrel. (At 11:26 AM today).

The top gainers at MCX are Crude oil for July contract (1.54%), Silver for March contract (1.23%), Silver for September contract (1.20%), Potato TRWR for March contract (1.18%) and Silver M for November contract (1.14%). (At 11:24 AM today).

The top losers at MCX are Iron ore for April contract (-2.74%), Iron ore for March contract (-2.03%), Potato for May contract (-1.79%), Cardamom for March contract (-1.71%) and Cardamom for April contract (-1.67%). (At 11:22 AM today).

The top gainers at NCDEX are Silver for May contract (2.7%), Silver for July contract (2.2%), Maize for May contract (1.4%), Maize for April contract (1.2%) and Gold for August contract (1.1%). (At 11:19 AM today).

The top losers at NCDEX are Potato for June contract (-4.0%), Potato for July contract (-3.9%), chilli for June contract (-3.0%), Potato for August contract (-2.6%) and Potato for May contract (-2.4%). (At 11:17 AM today).

Copper futures are trading with positive note on the back of strengthening of global economy that boosted the demand for the metal, mainly used in building and electricity transmission grids.

U.S. service industries expanded in February to 59.7, and manufacturing grew at the fastest pace in almost seven years, according to the reports. The U.S. Department of Labor showed yesterday that U.S. initial jobless claims fell substantial by 23,000 to 368,000 in the week ended February 26, 2011 as compared to previous figure of 391,000. While, U.S. unemployment rate declined to 8.9%, the lowest level since April 2009, boosting optimistic view of U.S. economic.

Since, London Metal Exchange (LME) is close today; all the base metals are trading with little changed at multi Commodity Exchange (MCX) tracking cues from the domestic market.

At MCX, copper future for February contract is trading at Rs. 449.15 per kg, up by 0.19%, after opening at Rs. 448.30 against the previous close price of Rs. 448.30. (At 11:12 AM today).

At MCX, Lead future for March contract is trading at Rs. 118.70 per kg, up by 0.25%, after opening at Rs. 118.40 against the previous close price of Rs. 118.40. (At 11:09 AM today).

At MCX, Zinc future for March contract is trading at Rs. 111.30 per kg, up by 0.31%, after opening at Rs. 111.35 against the previous close price of Rs. 111.65. (At 11:06 AM today).

At MCX, Nickel future for March contract is trading at Rs. 1,301.50 per kg, up by 0.17%, after opening at Rs. 1,300.10 against the previous close price of Rs. 1,299.60. (At 11:00 AM today).

Gold futures climbed in the Indian bullion market on global cues. April future advanced on Friday as much as 0.86% to $1,428.6 per ounce on the COMEX as mounting political tensions in Libya enhanced the investment appeal for the precious metal as a protection of wealth. Turmoil in Libya renewed after opposition leaders in Libya rejected a mediation offer by Venezuelan President Hugo Chavez and prepared to push toward Qaddafi’s stronghold.

Gold for April contract, at MCX, is trading at Rs.21,091.00 per 10 grams, up by 0.18%, after opening at Rs. 21,069.00 against the previous close price of Rs. 21,054.00 with intra-day high of Rs. 21,105.00 till the trading. (At 10:56 AM today).

Silver for March contract, at MCX, is trading at Rs.52,270.00 (up by 1.23%) after opening at Rs. 52,925.00 against the previous close of Rs. 51,636.00 with intra-day high of Rs. 52,925.00 till the trading. (At 10:55 AM today).

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Currently, Domestic commodities markets are trading with positive note. Most of the indices are showing upward trend on Multi Commodity Exchange (MCX) except MCXENERGY. At MCX futures, MCXCOMDEX is trading at 3,475.56 (up by 0.59%), MCXMETAL is trading at 4,465.20 (up by 0.11%), MCXAGRI is trading at 2,895.20 (up by 6.46%), and MCXENERGY is trading at 3,123.86 (down by 1.27%). (At 05:25 PM today).

At NCDEX, the Dhaanya, an agri commodity index, closed at 1,147.80, down by 0.04% (At 05:00 PM today).

On the domestic front, turmeric futures prices rebounded due to increased buying by the stockiest in order to meet rising domestic and export demand. Moreover, fall in supplies from the major producing regions also kept the prices in the positive zone today. At National Commodity & Derivative Exchange (NCDEX), April future closed at Rs. 10,100.00 per quintal, up by 2.35%. (At 05:00 PM today).

The top gainers at MCX are Lead for May contract (3.52%), Lead M for May contract (3.44%), Copper for August contract (2.70%), Zinc for May contract (2.11%) and Aluminium for May contract (2.07%). (At 05:15 PM today).

The top losers at MCX are Potato TRWR for March contract (-4.00%), Cardamom for April contract (-4.00%), Cardamom for March contract (-4.00%), Mentha oil for May contract (-3.99%) and Cardamom for May contract (-3.98%). (At 05:14 PM today).

The top gainers at NCDEX are Kapas for March contract (2.5%), Turmeric for April contract (2.4%), Chilli for June contract (2%), Nickel for March contract (1.7%) and Turmeric for June contract (1.6%). (At 05:12 PM today).

The top losers at NCDEX are Light sweet crude oil for April contract (-2.6%), Natural gas for March contract (-2.1%), Cotton seed oilcake for June contract (-1.8%), Coriander for May contract (-1.8%) and Potato for June contract (-1.8%). (At 05:11 PM today).

At Multi Commodity Exchange (MCX), Zinc future for March contract traded at Rs. 113.95 per kg, up by 0.22%, after opening at Rs. 113.60 against the previous close price of Rs. 113.70. It touched the intra-day low of 113.00 till the trading. (At 05:08 PM today).

Copper for April contract, at MCX, is trading at Rs. 450.85 per kg (down by 0.10%) after opening at Rs. 450.45 against the previous close price of Rs. 451.30 with intra-day low of Rs. 446.40 till the trading. (At 05:07 PM today).

At Multi Commodity Exchange (MCX), natural gas future for March contract is trading at Rs. 181.80 per mmBtu, down by 2.10%, after opening at Rs. 185.50 against the previous close price of Rs. 185.70 per mmBtu. It touched the intra-day low of Rs. 181.60 till the trading. (At 05:06 PM today)

On the domestic front, crude oil futures are trading with negative note due to tracking weak cues from the global market. March future dropped as much as 1.53% to Rs. 4,376.00 per barrel on the back of speculation that Saudi Arabia can increase oil production in order to offset supply shortage in the region. Saudi Aramco, world’s largest state oil company, is ready to compensate for any deficit in crude supply due to prevailing unrest in Middle East nations, according to statement of Chief Executive Officer Khalid Al-Falih. However, Saudi Arabian Oil Minister Ali al-Naimi said on February 22, 2011 that his country and OPEC members will cover the any shortfall in oil production.

At Multi Commodity Exchange (MCX), crude oil future for March contract is trading at Rs. 4,383.00 per barrel, down by 1.37%, after opening at Rs. 4,440.00 against the previous close price of Rs. 4,444.00. It touched the intra-day low of Rs. 4,376.00 till the trading. (At 05:03 PM today).

Today, crude oil futures will take cues from the global market as the Institute for Supply Management (ISM) manufacturing index has scheduled to release at 08:30 PM IST today. It shows business conditions in the U.S. manufacturing. It is a significant indicator of the overall economic condition in U.S. A result above 50 is seen as positive for crude oil prices, while a result below 50 is seen as negative. Investors are expecting a fall in this indicator by 0.3 points to 60.5 in February from 60.8 in January.

On the international front, China’s manufacturing expanded at the sluggish rate in six months in February, according to report released by the China Federation of Logistics and Purchasing (CFLP) today. Country’s manufacturing PMI fell to 52.2 in February from 52.9 in January. The indicator reflects the business conditions of the Chinese manufacturing sector.

Gold prices surged in New York due to political tensions in Libya and other parts of Middle East, boosting the investment appeal in precious metals as a protection of wealth. April future advanced as much as 0.74% to $1,420.4 per ounce on the COMEX today on fear of spreading unrest in other part of Middle East. 

Moreover, increase in Chinese demand for gold also supported the prices, as China imported more than 300 metric tons of gold last year, People’s Bank of China Vice Governor Yi Gang said on Feb. 26 in Beijing.

At COMEX, gold future for April contract is trading at $1,418.5 per ounce, up by $8.6, after opening at $1,411.6 against the previous close price of $1,409.9 per ounce. It touched the intra-day high of 1,420.4 with a business volume of 21,030 lots till the electronic trading. (At 04:57 PM today).

At Multi Commodity Exchange (MCX), silver future for March contract is trading at Rs. 50,007.00 per kg, up by 0.31%, after opening at Rs. 50,000.00 against the previous close price of Rs. 49,850.00 per kg. It touched the intra-day low of Rs. 49,751.00 till the trading. (At 04:55 PM today).