6:27 PM
Nifty Tips
Crude Oil
WTI light sweet crude oil futures are trading in a positive trend both in MCX and electronic platform. The 17th named Atlantic tropical storm Richard is expected to intensify and may become a hurricane, as per the NHC.Thus, oil prices are trading in a rising trend, though dollar index is appreciating and equity market are in
lower side. Oil futures are also taking cues from depreciating Indian rupee by 25 paisa. There are no major economic releases in the day ahead. However, we may expect oil prices to trade in a higher range in the evening session.
Natural Gas
Natural gas future contracts are also trading in a positive trend in MCX, might have taken cues from international price movement. As per NHC the tropical storm Richard is expected to become a hurricane in couple of days, which may hamper supply and production channel. Dollar index is in a rising trend, whereas European equities are in a lower trend. There are no major economic triggers in the evening session. However, we may expect gas prices to trade in a higher range on the back of tropical storm threat.
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