Crude Oil prices
rose by 1.07 percent on Thursday at the domestic markets supported
by a
strengthening labor market. The government will publish its
revised GDP growth estimate later
this month which could show a rise
due to the upbeat jobs market. Recently, the Labor
Department said
job openings surged to 5.03 million in December, the highest level
since
January 2001, from 4.85 million in November which raised the
demand outlook for the fuel in
the world’s largest economy. At the
MCX, crude oil futures for February 2015 contract were
trading at
Rs. 3,108 per barrel, up by 1.07 percent, after opening at Rs. 3,078
against the
previous closing price of Rs. 3,075. It touched the
intra-day low of Rs. 3,078 till the trading.
Zinc prices rose
by 0.91 percent on Thursday at the domestic markets due to the
decline in the
zinc stockpiles at the London Metal Exchange (LME) on
account of the strong demand for the
commodity. LME zinc stocks fell
by 4100 metric tonnes to 598575 metric tonnes as on February
12,
2015. Zinc futures for February 2015 contract, at MCX, were trading
at Rs 133.30 per kg, up
by 0.91 percent after opening at Rs. 131.85
against the previous closing price of Rs. 132.10. It touched the intra-day
high of Rs. 133.35 till the trading.
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