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In line with rising commodity prices around the world, MCX Comdex rose 7% over the fortnight. The bigger contributor to it was rising energy prices. As crude and natural gas went up, MCX Energy Index was up by 10%. The metal index was also up 7%. Only the MCX Agri Index ended flat.

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Banking operations partially affected due to one-day strike

New Delhi: Banking operations have been partially affected as employees of left-leaning unions went on day-long strike today to protest against the disinvestment policy of the government and the price rise, reports PTI.

About five lakh members of the All-India Banks Employees' Association (AIBEA) are supporting the nation-wide strike call given by various trade unions, claimed AIBEA general secretary C H Venkatachalam.

As many as eight central trade unions, including CITU, have announced a nation-wide strike against major issues like price rise, the disinvestment policy of the government and violation of labour laws.

Mr Venkatachalam said the strike call is against banking sector reforms and mergers of public sector banks, among other issues.

However, State Bank of India officers' and employees' unions are not part of the strike.

The other union which is part of the strike is Bank Employees Federation of India (BEFI) which has a membership of about one lakh employees.

Banking services are affected in areas where these unions have stronghold including West Bengal and Kerala.

Many banks have already informed their customers in advance about strike, in which case normal functioning of its branches or offices may be affected.
 

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Commodity Trends
  • Lack of selling and ample buying pushed ICE Futures US cotton to a nine-month high, amid rallying commodities and a falling US dollar. One of the key reasons is late monsoon rains, in the world’s second largest cotton producer, India.   
  • Scanty rainfalls were also responsible for a sharp rise in the Indian guar futures. Guar is mostly grown in north-western India, where the rainfall...
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