The Hindu Business Line : Guarseed futures gain on NCDEX

Mumbai, Sept. 11 Though commodity futures markets were volatile, as usual, most of the commodities on Tuesday finished almost flat. “The market saw very good intra-day movements especially in soyabean and jeera, but most commodities closed near their yesterday’s level,” said Mr Harish Galipalli, head of research, Karvy Commodities.

There were only two gainers in the form of potato and guarseed on NCDEX.

Potato (Delhi) futures on NCDEX gained 1.33 per cent to Rs 702 per quintal in the wake of decline in arrivals from Hasan. “Arrivals have slowed down as the stocks are fast depleting. It may exhaust soon,” said a trader. Guar seed futures rallied by 1.26 per cent to Rs 1,762 per quintal on unconfirmed news that Pakistan may hike prices of imports from India.

Turnover

NCDEX registered a 12 per cent increase turnover of Rs 2,293 crore in the first session against Rs 2,046 crore clocked yesterday. The NCDEX benchmark future index Futexagri was up 2.14 points at 1424.91, while the spot index Ncdexagri was down 1.85 points at 1419.19.

MCX turnover in the first session up to 5 pm was down 2.68 per cent at Rs 3406 crore.

MCX Comdex—the composite index of metals, energy and agri sub-indices—was up 0.86 per cent at 2180.23 points. MCX Metal Index gained 0.54 per cent at 2461.67 points, MCX Energy Index was up 1.54 per cent at 2333.76 points, while MCX Agri index closed down 0.01 per cent at 1746.35 points.