The rupee rose by 9 paise to trade at fresh two-week high of 55.27 against the US currency in early trade on Monday on persistent dollar selling by exporters and some banks.
Oilseeds complex slumped on the back weak US oilseeds, Malaysian Palm Oil futures amid weak Indian Soya meal exports and strong production estimations.
Gold futures are trading marginally higher in Asia electronic session today, however the range remained quite tight so far this week as the traders become cautious ahead of the FOMC meeting today.
Zinc futures for September 2012 contract, at MCX, were trading at Rs. 106.50 per kg, up by 1.28 per cent after opening at Rs. 105.30 against the previous closing price of Rs. 105.20. It touched the intra-day high of Rs. 106.85 till the trading.
Buoyancy is likely to continue in coriander futures on the heels of poor arrivals in major mandies coupled with concerns of weak coriander production in the current year.
At the NCDEX, castor seed futures for September 2012 contract closed at Rs. 3,572 per quintal tonnes, up by 0.9 per cent, after opening at Rs. 3,510 against the previous closing price of Rs. 3,540.
The commitment shown by European Central Bank (ECB) President, Mario Draghi, towards Euro polished the base metals on Thursday. Overall dull weak of metals
MCX Copper closed at Rs 413 per kg on Saturday. The weakness from higher levels is expected in the local contracts as Rupee has regained some lost ground versus the Dollar. Rupee was trading at 55.29 against the Dollar on Monday.
After a stunning 4 per cent rally last week on the back of fuel price hike and global cues, the BSE Sensex added over 250 points in early trade on Monday and hit a 52-week high of 18,715.03 following the FDI approvals in retail
The rupee fell to its lowest in nearly a week on Thursday as Trinamool Congress (TMC), a key ally of the country's ruling coalition, withdrew its support, raising worries the government may roll back key reforms such as the hike in diesel prices.
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