Natural Gas
futures closed on a bearish note in the domestic and overseas market
on Tuesday
as investors and speculators exited positions in the
energy commodity as traders eyed the close
of the winter season in
the US, the world’s biggest fuel consumer, which will curb heating
demand. The MDA Weather Services predicted moderate temperatures
following a frigid end to
the month of February. At the MCX,
Natural Gas futures for February 2015 contract closed at
Rs 169.20
per 1 kg, down by 5.7 percent after opening at Rs 178.1, against the
previous closing
price of Rs 179.4. It touched the intra-day high of
Rs 168.4 till the closing.
Zinc futures
closed lower in the domestic market on Tuesday as investors and
speculators
exited positions in the industrial metal amid weak
physical demand for zinc in the domestic
spot market. Investors cast
aside upbeat German data which showed a rise in investor
confidence
to a one-year high in February in Europe’s biggest economy, lifting
the demand
outlook for industrial metals. The gauge measuring German
investor sentiment rose to 53 in
February from 48.4 in January. At
the MCX, Zinc futures for February 2015 contract closed at
Rs 130.45
per 1 kg, down by 2.36 percent after opening at Rs 133.4, against the
previous closing
price of Rs 133.6. It touched the intra-day low of
Rs 130.35 till the closing.
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