The commodity market showcased a striking divergence as resilient industrial metals and bullion surged while the energy sector faced a sharp retreat.
The overall market mood remained mixed, with the iCOMDEX Bullion and Base Metal indices posting steady gains, even as a significant slump in energy prices pulled down the broader performance.
Investors appeared to be balancing optimistic demand for industrial raw materials against a weakening outlook for fuel commodities.
In the metals patch, the silver rate was the standout performer, leading the gainers as the iCOMDEX Silver index climbed over one percent. This bullish momentum provided a tailwind for base metals, where nickel and lead saw strong buying interest.
Zinc and zinc mini also followed suit, posting healthy advances by the end of the Friday session. Within the smaller-volume contracts, cardamom and aluminum mini found support to end in the green, while crude oil mini managed a fractional gain despite broader weakness in the energy complex.
On the flip side, the energy segment acted as the primary anchor on the market, with natural gas and natural gas mini both sliding more than one and a half percent.
The impact was even more pronounced in the iCOMDEX energy index, which plummeted over three percent, weighed down by a significant correction in the crude oil index.
Elsewhere, mentha oil and the primary aluminium contract experienced mild selling pressure, finishing the day with marginal losses.
This performance reflects shifting dynamics in international markets, where industrial demand continues to buoy metals like nickel and silver, while concerns over supply-demand balances have pressured energy benchmarks.
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