The Hindu Business Line : Chana drops as investors keep off from long positions

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Mumbai Feb. 15 After gaining Rs 60 per quintal in the last two days on the NCDEX, chana futures on Thursday dropped 1.03 per cent to Rs 2,111 per quintal. "Investors have shied away from taking long positions in chana futures ever since the Government banned urad and tur futures. Spot prices were also down Rs 60-70 to Rs 2,485 per quintal," said a dealer.

Jeera futures up

Jeera futures on NCDEX hit the upper circuit of 4 per cent at Rs 10,065 per quintal on fears of crop damage due to rains in Gujarat.

Falling by Rs 30 per quintal on Wednesday, potato futures on MCX saw some good buying at lower levels to gain 2.1 per cent to Rs 563 per quintal. The output may also be hit due to crop damage in Uttar Pradesh.

Continuing its bullish trend, pepper futures were marked up 1.97 per cent to Rs 12,797 per quintal. Refined soya oil futures fell 0.93 per cent to Rs 461 per 10 kg.

Soyabean arrivals slowed down with the season drawing to a close in Madhya Pradesh. Short covering in sugar and guarseed futures pushed prices up by 0.7 per cent and 0.59 per cent to Rs 1,579 per quintal and Rs 1,865 per quintal respectively.

NCDEX registered a turnover of Rs 2,559 crore (Rs 2,751 crore, up to 11 p.m.) up to 5 pm on 86,240 (87,860) trades, while on MCX it was Rs 3,264 crore (Rs 9,834 crore, up to 11 p.m.) on 61,171 (172,665) trades. Active trades were seen in chana, pepper, guarseeds, refined soy oil, jeera and gold.