Stock Market News: Natural Gas futures ended bigger in the domestic and overseas market on Wednesday as investors and speculators booked fresh positions in the energy commodity as traders eyed the weekly EIA storage numbers set for release on Thursday to gauge the strength of demand for the fuel in the world’s largest fuel consumer, the US. Analysts expect an 80 billion cubic feet build in US stockpiles in the week ended April 17, 2015, which will be well above the 45 billion cubic feet uptick witnessed in the same period a year ago, and topping the five-year average gain of 46 billion cubic feet.
At the MCX, Natural Gas futures for April 2015 contract ended at Rs 164.1 per 1 kg, up by 1.11 per cent after opening at Rs 161.7, against the last closing price of Rs 162.3. It touched the intra-day high of Rs 165.4 till the closing.
Zinc futures ended bigger in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Investors cast aside China leading index data which rose 0.2 % in March from February when it climbed 1.4 per cent, signaling a worsening economic slowdown in the world’s biggest metals consumer. Meanwhile, consumer confidence in the Euro area fell this month, signaling doubts over the recovery in the 19-member economy. The gauge measuring Euro area consumer confidence fell to -4.6 in April from -3.7 in March.
At MCX, Zinc futures for April 2015 contract ended at Rs 140.85 per 1 kg, up by 1.37 per cent after opening at Rs 138.95, against the last closing price of Rs 138.95. It touched the intra-day high of Rs 141.15 till the closing.
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