Wednesday, January 29, 2014


Base Metals & Energy
                                                             D A I L Y B U Z Z
Amid a weak global trend and low domestic demand, nickel prices declined 0.52 per cent to Rs 907.60
per kg in futures trade today as speculators trimmed their positions.

Sentiment remained bearish after industrial metals retreated in global markets as manufacturing data from China fell below expectations.

At the Multi Commodity Exchange, nickel for delivery in January declined by Rs 4.70, or 0.52 per cent, to Rs 907.60 per kg in a business turnover of 1,158 lots.

Similarly, the metal for delivery in February shed Rs 4.50, or 0.49 per cent, to Rs 913.50 per kg in 168

Market analysts said speculators trimmed their positions in line with a bearish global trend that put
pressure on nickel prices at futures trade.

Meanwhile, nickel fell 0.3 per cent to $14,750 a tonne at the London Metal Exchange.

Agro Outlook
                                                       D A I L Y B U Z Z
Cardamom prices rose by 0.40 per cent to Rs 724.90 per kg in futures trade today after speculators enlarged positions supported by good buying in the spot markets.

Sentiment improved further as a result of firm demand in the spot market against restricted arrivals from producing belts.

At the Multi Commodity Exchange, cardamom for February contracts rose by Rs 2.90, or 0.40 per cent, to Rs 724.90 per kg, with a trading volume of 136 lots. The spice for delivery in March was trading up by Rs 2.80, or 0.37 per cent, to Rs 755 per kg, with a business volume of 44 lots.

Mentha oil prices rose by 0.44 per cent to Rs 819.20 per kg in futures trade today as traders created fresh positions, driven by pick up in demand from consuming industries in spot markets.

The trading sentiment improved further on lower arrivals from major producing area of Chandausi in Uttar Pradesh.

At the Multi Commodity Exchange, mentha oil for delivery in January rose by Rs 3.60, or 0.44
per cent, to Rs 819.20 per kg, clocking a business volume of 120 lots.