Zinc futures climbed during morning trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, speculation that global central banks may boost stimulus to shore up confidence in financial markets that are reeling under the fallout of Brexit, also improved the demand outlook for the metal. Bank of Japan governor Haruhiko Kuroda met Prime Minister Shinzo Abe and other members of the government to possibly discuss further policy easing measures to calm the market.
Zinc futures for June 2016 contract, at MCX, were trading at Rs 136.70 per kg, high by 0.74 per cent after opening at Rs. 136.30, against the previous closing price of Rs. 135.70. It touched the intra-day high of Rs. 136.80. (At 10:55 AM).
Zinc futures for June 2016 contract, at MCX, were trading at Rs 136.70 per kg, high by 0.74 per cent after opening at Rs. 136.30, against the previous closing price of Rs. 135.70. It touched the intra-day high of Rs. 136.80. (At 10:55 AM).
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