Mentha Oil Futures Dip On Easing Demand

Mentha oil futures were trading lower during the morning trade in the domestic market on Tuesday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market. Further, exiting of bets by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions.

At the MCX, mentha oil futures for January 2018 contract was trading at Rs 1583 per kg, down by 0.75 per cent, after opening at Rs 1580.60, against the previous closing price of Rs 1595. It touched the intra-day low of Rs 1570.

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Lead Futures Dip On Subdued Demand

Lead futures were trading lower during the afternoon trade in the domestic market on Tuesday as participants reduced their exposure amid subdued demand from consuming industries in the spot market. The weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets.

At the MCX, lead futures for January 2018 contract is trading at Rs 162.70 per kg, down by 1 per cent, after opening at Rs 163.30, against a previous close of Rs 164.35. It touched the intra-day low of Rs 162.10.

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Key Indian Equity Indices Open At Fresh Highs

Key Indian equity indices opened at fresh highs during the early morning trade session on Tuesday. According to market observers, consumer durables, capital goods and IT stocks witnessed healthy buying. At 9.16 a.m., the wider Nifty50 of the National Stock Exchange (NSE) traded 16 points or 0.15 per cent higher at a new high of 10,757.55 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 34,877.71 points, traded at a fresh level of 34,903.28 points -- up 59.77 points or 0.17 per cent -- from its previous session's close. The Sensex has touched a new high of 34,936.03 points during the intra-day trade so far. The BSE market breadth was bullish as 818 stocks advanced as compared to 342 declines.

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Indian Rupee Opens Lower By 11 Paise At 63.60 Per Dollar

The Indian rupee opened lower by 11 paise at 63.60 per dollar on Tuesday versus previous close 63.49. The euro had started moving higher post the ECB meeting and consequently the US dollar has now moved below 91 levels now. I expect the rupee to continue to appreciate and expect the USD-INR to trade within a range of 63.40-63.60.

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Copper Futures Up 1.77% On Spot Demand

Copper futures were trading higher in the domestic market on Monday as speculators widened positions amid positive global cues. Analysts attributed the rise in copper futures trade to raising of bets by participants amid pick up in demand at the spot markets and positive global cues.

At the MCX, copper futures for February 2018 contract was trading at Rs 461.05 per kg, up by 1.77 per cent, after opening at Rs 457.90, against a previous close of Rs 453.05. It touched the intra-day high of Rs 461.45.

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Lead Futures Up On Rising Demand

Lead futures were trading higher during the afternoon trade in the domestic market on Monday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Building up of positions by traders backed by upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.

At the MCX, lead futures for January 2018 contract is trading at Rs 163.50 per kg, up by 1.18 per cent, after opening at Rs 162.40, against a previous close of Rs 161.60. It touched the intra-day high of Rs 163.65.

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Cardamom Futures Up On Rising Demand

Cardamom futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices.

At the MCX, cardamom futures for January 2018 contract was trading at Rs 1099 per kg, up by 0.86 per cent, after opening at Rs 1099, against a previous close of Rs 1089.60. It touched the intra-day high of Rs 1099.

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