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Zinc down in range-bound trade

Press Trust of India/New Delhi 25 Jun 12 | 01:05 PM

In range-bound movements, zinc fell 0.34% in futures trade today after speculators kept their positions restricted.

At the MCX, zinc for delivery in June traded lower by 35 paise, or 0.34%, to Rs 103.20 per kg, with a business turnover of 332 lots.

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The July contract shed 35 paise, or 0.29%, to Rs 103.90 per kg in 57 lots.

Market analysts said apart from a weak trend in base metals in global markets, subdued domestic demand also put pressure on zinc prices at futures trade.

Meanwhile, zinc gained 1.10% to $1,819.75 a tonne on the London Metal Exchange.

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Company Price Gain (%)
GAIL (India)373.202.04
ITC253.301.24
Axis Bank586.400.47
Dr Reddy`s Labs3,049.550.34
Lupin1,522.600.10

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