Thursday, February 24, 2011

Commodity Tips Free Mcx Tips Trial

Currently commodities markets in India are trading on a favourable note. At MCX, all major indexes are trading positively. At MCX futures, MCXCOMDEX is trading at 3,394.75 , up by 1.77 %, MCXMETAL is trading at 4,426.51, up by 1.35%, MCXENERGY is trading at 2,941.36, up by 3.14% and MCXAGRI is currently trading at 2,916.94, up by 0.33 % (At 02:52 P.M. today).

At NCDEX, the Dhaanya, an Agri commodity benchmark index, is currently trading at 1,170.37, up by 0.5% (At today).

The top gainers at MCX are POTATO TRWR for May contract (3.66%), Potato TRWR for March contract (3.11%), Silver M for August contract (2.98%), Silver for September contract (2.97%) and Silver M for June contract (2.90%).

Similarly the top losers at MCX are Cardamom for June contract (-2.14%), Cardamom for May contract (-1.29%), and Cardamom for April contract (-0.49%).

The top gainers at NCDEX are Chilli for June contract (4.0%), Chilli for April contract (3.8%), Chilli for March contract (3.5%), Silver for March contract (3.0%) and Turmeric for April contract (3.0%).

Similarly the top losers at Guar Gum are Potato for September contract (-2.3%), Potato for February contract (-1.1%), Guar Gum for February contract (-0.8%), Guar Gum for July contract (-0.7%) and Potato for July contract (-0.6%).

On the domestic arena, at MCX, Crude Oil for July contract is trading at INR 4,478.00 against Previous close price of INR 4,428.00 (up by 1.13%). Crude Oil for June contract is trading at INR 4,440.00 against Previous close price of INR 4,370.00 (up by 1.60%). (At today).

Gold for October contract is trading at INR 21,603.00 against Previous close price of INR 21,207.00 (up by 1.87%). Gold for August contract is trading at INR 21,370.00 against Previous close price of INR 21,074.00 (up by 1.40%). (At today).

Silver for September contract is trading at INR 51,123.00 against Previous close price of INR 49,656.00 (up by 2.95%). Silver for July contract is trading at INR 50,905.00 against Previous close price of INR 49,478.00 (up by 2.96%) (At today).

Cardamom for June contract is trading at INR 1,265.90 against Previous close price of INR 1,287.60 (down by 1.69%). Cardamom for May contract is trading at INR 1,274.60 against Previous close price of INR 1,286.60 (down by 0.93%). Cardamom for April contract is trading at INR 1,263.80 against Previous close price of INR 1,268.20 (down by 0.35%) (At today).

There had been a reduction in the demand for wires and cables, as a result of an increase in the copper prices by 39% in the last 6 months, a raw material used in the making of the two. As a result, cabling contractors in the major infrastructure and housing projects are demanding a revision in their contract valuation. This ongoing negotiation between contractors and builders is leading to continued delays in infrastructure and construction projects. Copper prices have more than doubled in the last two years from $2,800 a tonne in 2008 to over $10,000 tonnes in 2011. Copper for the June 2011contract is trading at Rs 456.30, up by 0.62% at MCX.

Oil prices declined on Friday after China rose the lender’s reserve rates. This decision of increasing the reserve rates by 50 basis points is backed majorly by steps to control the inflation, as the continued high rate of inflation could prove as a major deterrent for the growth in oil demand. US March light crude contract declined to $ 85.82 (down by 54 cents).

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