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Following the lacklustre trade in global markets yesterday, volumes are expected to remain low in India’s commodity futures market. China’s inflation worries are likely to impact the commodity markets today as well.
Trend in the base metal complex is usually dictated by copper which was quoting low from Rs 442 levels of last week for the April contract.
Crude continued to be under selling pressure despite some gains recorded yesterday. Short-term trend for crude is likely to be negative, Mr V. Harish, Senior Analyst, Geojit Comtrade, said.
Some further pull back is expected in gold. Rupee is likely to show further sideways movement with a tendency to ease further.
Among the agricultural commodities, cardamom, turmeric and jeera could witness further selling pressure. Pressure in chilli futures could continue. Rubber prices could also witness some pressure.
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