MTECHTIPS

   MTECHTIPS;- Zinc futures trade sideways to negative

Zinc Jun futures is trading in sideways to negative territory today. Positive opening was seen in Zinc today, but the early gains were trimmed on investors cautious sentiments. MCX Zinc Jun future prices opened today at Rs 105.45. It has depleted its gains and is trading flat at Rs 105.15 down by -0.10%, against its previous closing of Rs 105.20 per KilogramZinc yesterday traded with the negative node and settled -0.1% down at 105.2 overall traded in the range although the pro-bailout New Democracy party won the Greek election, the resolution of European debt crisis did not achieve any substantial progress. Besides, the Spanish 10-year government bond yield surged as high as 7.2%, dragging LME prices to fall. Markets have gradually returned to rational levels following the Greek election and begun doubting about the country's capability to establish a coalition government. Furthermore, while the financing cost in Spain and Italy increased steeply, there is no positive result from the G20 meeting.

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