Synthesis of nanocomposites in nanofield has drawn much attention due to their potential applications in nanoscale electronics and opto-electronic devices. The properties of nanocomposite materials depend not only on the properties of their individual parents but also on their morphology and interfacial characteristics. Thus, nanocomposites promise new applications in many fields such as mechanically reinforced lightweight components, non-linear optics, battery cathodes, nanowires, sensors and other systems 1-4. Metallic nanocomposites could offer distinct advantages over polymeric composites due to the inherent high temperature stability, high strength, high modulus, wear resistance and thermal and electrical conductivity of the metal matrix. Magnesium oxide (MgO) nanoparticle is thermodynamically stable and wide band gap (7.2 eV) material. It has application as a protective layer in plasma display panel 5 , paint, toxic waste water remediation, refractory materials, sensor and superconducting products 6-8. Magnesium oxide is a best candidate for the barrier material in super sensitive low field sensor called Magnetic Tunnel Junction (MTJ) sensors, because of its superior Tunneling magneto-resistance (TMR) value compared to AlOx 9,10. Zinc oxide is a wide bang gap (3.37 eV) semiconductor oxide and it is a promising material for electronic and opto electronic applications such as field emitters,