MCX Natural Gas Falls 2.38% on Profit-Taking Reversal

WHAT HAPPENED MCX Natural Gas declined to 274.5 INR/mmBtu at 22:29 IST, posting a -2.38% loss from the previous close. The pullback extends overnight weakness first seen at 21:00 IST (275.9 INR/mmBtu, -2.72%) and reverses the intraday rally that peaked at 284.2 INR/mmBtu at 19:35 IST. USD/INR strengthened to 94.84, offering mild headwind to INR-denominated commodity prices. Crude Oil remains subdued at -0.16%, offering no support.

WHAT IT MEANS The -2.38% break signals sustained profit-taking after the +2.12% rally to 284.2 INR/mmBtu earlier in the session. For MCX traders, the oscillation between 274.5–284.2 INR/mmBtu now defines the intraday range. Copper's +1.72% strength and gold's flatness suggest risk-off sentiment is selective; natural gas remains vulnerable to supply-demand repricing.

WHAT TO WATCH Hold of 274.5 INR/mmBtu support is critical. Break below 273 INR/mmBtu would confirm deeper profit-taking; recapture of 280 INR/mmBtu would signal range-bound recovery within today's 2.12% volatility band.