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Zinc futures prices today edged up by 0.55 percent to Rs 138.10 per kg as participants enlarged positions amid a firming trend at the London Metal Exchange. At the Multi Commodity Exchange, zinc for delivery in January moved up by 75 paise, or 0.55 percent, to Rs 138.10 per kg, with a business turnover of eight lots. The metal for delivery in current month also rose marginally by 20 paise, or 0.15 per cent, to Rs 137 per kg in a business volume of 121 lots. Market participants said fresh positions created on firming trend in the base metals pack overseas on speculation that China will further stimulate the economy of the world's biggest metals consumer, supported the rise in zinc futures.
Crude oil prices rose by 0.82 percent on Monday at the domestic markets after U.S. consumer sentiment rose in December to a near eight-year high on improved prospects for jobs and wages and on lower gasoline prices which raised the demand outlook for the fuel. The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment for this month came in at 93.8.At the MCX, crude oil futures for December 2014 contract were trading at Rs. 3,668 per barrel, up by 0.82 percent, after opening at Rs. 3,634 against the previous closing price of Rs. 3,638. It touched the intra-day high of Rs. 3,676 till the trading. (At 12 PM).
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