The country’s latest commodity exchange to go online with a national presence, ACE Derivatives & Commodity Exchange, began with anchor promoter Kotak-group’s takeover of the decades-old Ahmed-abad Commodity Exchange.
The downward trend in global commodity markets over the past one month is having its impact on Indian market as well. The UBS Bloomberg Constant Maturity Commodity Index (CMCI) — a diversified commodity index made up of 26 components globally — dipped 7.71 per cent last month against a 0.30 per cent decline between April 3 to May 3.
Oil pushed up to a fresh 18-month high on Thursday, bolstered by talk of fresh inflows from investors at the start of the new quarter.
The move higher came despite
Launching a scathing attack on the UPA for its "failure" to check price rise, the Opposition today demanded a probe by a Joint Parliamentary Committee (JPC) into "scams" in essential
Steel prices are expected to move northward on account of short covering and some fresh buying may be seen at lower levels. Steel Long plunged around 12 per cent
Under attack over spiralling prices, Prime Minister Manmohan Singh today said the worst of food inflation is over and the situation will ease soon.
The Cabinet Committee on Prices will meet on Tuesday and is likely to consider various options to curb rising inflation and keep essential commodities from spiralling further.
Market predictions were easier at the start of 2009; from rock bottom the only way could be up. 2010 is tough to predict
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