Commodity Trading Tips

The traders offloaded their holdings in the metal tracking the slow demand from the alloy makers as a result of which the prices of nickel for the February contract fell by Rs 5.60, or 0.47 per cent, to Rs 1176.60 per kg, with a business turnover of three lots at the Multi Commodity Exchange (MCX).

The metal for the January contract also declined by Rs 5, or 0.43 per cent, to Rs 1168.30 per kg, with a trade volume of just two lots at the MCX.

Moreover, the restricted offtake by the alloy makers also influenced the prices of the metal.

The BSE Oil & Gas index was at 9,729.93 down by 87.27 points or by (0.89%). The main losers were Gail India by (1.47%) at Rs. 461.50 followed by Oil Indiadown by (1.14%) at Rs. 1,295.00, Petro net LNG down by (1.10%) at Rs. 130.70 and Cairn India by (0.87%) at Rs. 341.00.

The BSE Oil and Gas index was at 9,661.84 down by 155.36 points or by (1.65%). The main losers were GAIL by (3.11%) at Rs 453.85 along with ONGC down by (1.85%) at Rs. 1136.05, HPCL by (1.82%) at Rs. 353.00, Petronet by (1.74%) at Rs 219.85 and BPCL by (1.54%) at Rs. 545.80.

The BSE Oil & Gas index was at 9,721.14 up by 51.15 points or by (0.53%). The main gainers were RIL up by (1.31%) at Rs. 982.50 along with Gail India by (0.98%) at Rs. 457.05, Petronet LNG by (0.43%) at Rs. 129.80 and Cairn India by (0.28%) at Rs. 343.25.

The top gainers at MCX future are Nickel for January contract (2.42%), Nickel for February contract (2.31%), Nickel for March contract (2.01%), Sugar MKOL for June contract (1.33%) and Silver M for August contract (1.29%) (At 5:20 P.M today)