Tuesday, February 4, 2014

Research Via Base Metals,Energy Crude Oil Tips & Agro Cardamom Update For 04 Feb 2014

Base Metals & Energy
                                                                D A I L Y B U Z Z

Crude oil futures prices today fell by 0.76 per cent to Rs 6,122 per barrel after speculators indulged in
reducing positions triggered by weak Chinese data.

The trading sentiment weakened at futures trade after Crude oil prices declined in Asian trade as data
showing weak Chinese manufacturing activity fuelled concerns over energy demand in the world's
second largest economy, marketmen said.

At the Multi Commodity Exchange, crude oil for delivery in February fell Rs 47, or 0.76 per cent, to Rs 6,122 per barrel in 1,749 lots.

Similarly, the oil for March delivery moved down by Rs 39, or 0.63 per cent, to Rs 6,120 per barrel in
140 lots.

Meanwhile, crude oil for March delivery eased 51 cents at $96.98 a barrel on the New York Mercantile Exchange in mid-morning trade today

Agro Outlook
                                                       D A I L Y B U Z Z
Chana prices fell by 1.15 per cent to Rs 3,108 per quintal in futures market today, as speculators
booked profits, driven by a weak trend at the spot market on sluggish demand.
Expectations of higher production this season also put pressure on the chana futures prices.
At the National Commodity and Derivative Exchange, chana for delivery in April fell by Rs 36, or
1.15 per cent, to Rs 3,108 per quintal, with an open interest of 75,120 lots.
Similarly, the commodity for delivery in February declined Rs 31, or 1.05 per cent, to Rs 2,922
per quintal, with open interest of 9,130 lots.
Traders said besides profit-booking by speculators, subdued demand in the spot market at
existing higher levels mainly led to the fall in chana prices at futures trade.