Zinc futures trade in negative zone on profit-booking

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Zinc futures trade in negative zone on profit-booking
Press Trust of India / New Delhi Sep 07, 2010, 13:39

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Zinc futures traded 0.78 per cent down, or Rs 0.80, to Rs 101.15 per kg today after speculators booked profits amid weak trend overseas.

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At the Multi Commodity Exchange counter, zinc for September lost Rs 0.80, or 0.78 per cent, to Rs 101.15 per kg, with a turnover of 1,506 lots.

The metal for delivery in October also slipped by similar margin to Rs 102.15 per kg, clocked a business turnover of 56 lots.

Analysts said emergence of profit-booking by speculators and weak trend at spot markets on slack demand mainly dragged down zinc futures prices here.