MCX Electricity futures tank to two-week low as demand trends stay in focus

Electricity futures are sliding on MCX as markets focus on global energy prices amid possibility of some reprieve on global geo-political front. Crude oil prices have dipped after US President Donald Trump ordered the military to postpone any strikes against Iranian power plants. Meanwhile, IMD has noted that due to consecutive two Western Disturbances, isolated to scattered rainfall activity with thunderstorm & gusty winds likely to continue over northwest India during the week. Scattered to fairly widespread rainfall along with thunderstorm/lightning & gusty wind likely over Northeast & adjoining east India. This will likely to keep in demand electricity consumption in near term. MCX ELECDMBL futures fell 3.20% on the day to trade at Rs 4559 per 1 MWH. The counter tested near two-week low of Rs 4530 per MWH.

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