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Zinc futures down 0.23% on overseas cues; profit-booking

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Press Trust of India New Delhi
Zinc prices fell by 0.23 per cent to Rs 128.75 per kg in futures trade today after speculators reduced their exposure, tracking a weak trend overseas.

Besides, profit-booking by speculators too kept pressure.

At the Multi Commodity Exchange, zinc for delivery in May month eased by 30 paise, or 0.23 per cent, to Rs 128.75 per kg in a business turnover of 337 lots.

The metal for delivery in June fell by a similar margin to trade at Rs 129.40 per kg in 6 lots.

Market analysts said zinc futures weakened due to a weak trend in base metals in global markets after data showed that the China's official manufacturing purchasing managers index, a key gauge of factory activity, fell to 50.1 in April from 50.2 in March.

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First Published: May 02 2016 | 11:42 AM IST

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