Published on 7/06/2017 5:08:55 PM | Source: Dion Global Solutions Ltd
Zinc futures in reverse gear on global cues
Zinc futures were trading lower during evening trade in the domestic market on Wednesday as investors and speculators exited their positions in the industrial metal as investors remained cautious ahead of the UK elections, the European Central Bank (ECB) meeting and former FBI director James Comey's Senate testimony all set for Thursday.
Besides, India’s monetary policy committee (MPC) on Wednesday, as expected, voted to leave the benchmark interest rate unchanged, with repo rate at 6.25 per cent and reverse repo rate at 6 per cent. At the MCX, zinc futures for June 2017 contract is trading at Rs 157.80 per kg, down by 0.32 per cent, after opening at Rs 159, against a previous close of Rs 158.30. It touched the intra-day low of Rs 157.30 (at 16:34 hours).