Crude Oil prices rose by 0.85 percent on Friday at the domestic markets after China recently took steps to pour liquidity into the world's second-biggest economy. People’s Bank of China announced that it lowered the amount of deposits banks are required to hold as reserves to 19.5 percent from 20.0 percent, in an effort to boost lending and spur economic activity in the world’s second largest economy.At the MCX, crude oil futures for February 2015 contract were trading at Rs. 3,214 per barrel, up by 0.85 percent, after opening at Rs. 3,170 against the previous closing price of Rs. 3,187. It touched the intra-day high of Rs. 3,223 till the trading.
Copper prices rose by 0.56 per cent on Friday at the domestic markets after economic activity in Chile rose more-than-expected last month signaling improving sentiment in Chile, world’s largest producer of copper which raised the demand outlook for the metal. In a report, Banco Central de Chile said that Chilean Economic Activity rose to an annual rate of 2.9 per cent, from 1.3 percent in the preceding month. At the mcx copper futures for February 2015 contract were trading at Rs.357.50 per 1 kg, up by 0.56 percent, after opening at Rs. 355.60 against the previous closing price of Rs. 355.50. It touched the intra-day high of Rs. 357.50 till the trading.
No comments:
Post a Comment