The Hindu Business Line : Potato futures gain on short covering

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Mumbai March 5 Fall in chilli arrivals at the Guntur markets saw futures on NCDEX hitting the upper circuit of 4 per cent at Rs 4,519 per quintal. "The arrivals in Guntur were around 45,000 bags (40 kg per bag) against expectations of 80,000 bags. Exporters to Sri Lanka were seen buying about 600 bags," said a trader.

Jeera futures on NCDEX also hit the 4 per cent upper circuit at Rs 11,692 per quintal.

Short covering in potato futures on MCX helped Tarkeshwar and Agra varieties gain 2.16 per cent and 1.99 per cent to Rs 601 per quintal and Rs 646 per quintal, respectively. Continuing the bullish sentiment, kapas futures on MCX were up 1.14 per cent to Rs 442 per 20 kg.

Turmeric futures on NCDEX were marked down 2.31 per cent to Rs 2,027 per quintal as Nizamabad markets in Andhra Pradesh remained closed. Mentha oil futures on MCX dipped 2.5 per cent to Rs 554 per kg while maize futures on NCDEX dropped 1.94 per cent to Rs 757 per quintal.

NCDEX registered a turnover of Rs 2,802 crore (Rs 1,684 crore, up to 2 p.m.) up to 5 pm on 90,430 (54,040) trades.

Tracking the fall in international prices, pepper futures on NCDEX were down 5.56 per cent to Rs 11,677 per quintal. "Pepper prices in Vietnam were down $50 per tonne to $2,500 as arrivals improved in the markets which reopened after a long vacation," said an analyst.

Rubber for April delivery lost Rs 848 per quintal to Rs 8,809 on profit booking.

On MCX it was Rs 4,532 crore (Rs 1,040 crore, up to 2 p.m.) on 78,943 (22,466) trades. Active trades were seen in chana, pepper, guarseeds, refined soy oil, jeera and gold.

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