It was a decidedly bullish for the commodity market , as the MCX iCOMDEX Composite index climbed 2.77%.
This positive sentiment was largely powered by a significant breakout in the energy prices segment, where the broader energy index soared nearly 13%.
While international markets provided a mixed backdrop, domestic traders leaned heavily into energy and select metals to drive the day’s robust gains.
Natural gas stole the limelight during the session, with the main contract surging over 7.5% as supply-side dynamics and shifting demand forecasts triggered a wave of buying.
This enthusiasm spilled over into the base metals sector, where the MCX iCOMDEX Base Metal index rose by 1.05%, according to MCX.
Aluminium and zinc were the primary beneficiaries of this move, posting steady gains as industrial activity expectations remained firm and the aluminium index advanced over 3%.
In the precious metals arena, the gold price showed resilience with modest upticks in gold petal and gold guinea contracts, reflecting a steady appetite for safe-haven assets.
The silver rate also saw a significant boost, with its specific index advancing over 2.4%. However, the rally wasn’t entirely universal; crude oil faced some downward pressure, slipping slightly as the market reacted to evolving global supply reports and shifting inventories.
Additionally, the bullion-heavy MCX Bulldog index saw some marginal cooling off, ending the day as one of the few laggards.
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