Evening Roundup - June 3, 2020 - Geojit

- Restoring optimism over signs of faster recovery in major economies after picking up in business activity owing to easing lock down measure continued to support risky assets. Although simmering tension between US and China together with civil unrest in US hindered the investor's sentiments. Global equities gained, whereas European Equities outperformed on upbeat economic data. Commodities on global and MCX platform showed a blended performance. On currency front, dollar continued weakness against the basket of currencies.

- Bullion in international platform stretched losses on robust equities across globe and weak greenback. Gold spot extended losses for the second straight day by around half a percent. While silver shed more than 1.00 percent. However, MCX precious metals traded on a flat note.

- Crude oil prices slipped lower by paring morning gains ahead of official inventory from US. However, prospects of demand recovery and expectation of OPEC + production cuts kept price fall under check. WTI prices pared early gains, while Brent tested above $40/barrel at point of time in today's session and slipped more than 1.00%.

- Industrial metals exhibited a mixed move in London platform. Where copper fell from 2-1/2 month on cautious buying along with other metals. However, Nickel managed to float on positive territory. While on MCX platform, base metals were little changed.

Source : Equity Bulls

Keywords