The Hindu Business Line : Barley futures hit upper circuit

Mumbai, April 23 Investors in the commodity futures market seem to keeping their fingers crossed even as the Abhijit Sen Committee draft report has ruled out futures trading impacting spot prices. Waning investor interest in trading was well evident from the fact that MCX turnover fell 11 per cent to Rs 3,935 crore up to 5 pm, while on NCXDEX it dipped by 22 per cent to Rs 1,397 crore on Wednesday.

Barley futures on NCDEX hit the upper circuit of 2.49 per cent at Rs 1,118 per quintal on strong demand in the spot markets. Guarseed was up 1.75 per cent to Rs 603 per quintal. Jeera moved up 1.38 per cent to Rs 9,226 per quintal on unconfirmed news of possible damage to corps due to heavy rainfall in Turkey, one of the largest jeera producing countries.

Pepper recovers

Pepper recovered 0.88 per cent to Rs 14,330 per quintal on short covering. Mustardseed rose 0.83 per cent to Rs 522 per quintal on fresh buying interest. Tracking the firm international sentiments, soy oil gained 0.75 per cent to Rs 563 per 20 kg.

Turmeric for May delivery tumbled to the lower circuit of 2.66 per cent at Rs 3,151 per quintal on improved arrivals in the spot markets. Chilli fell to its lower circuit of 2.31 per cent at Rs 4,988 per quintal due to weak sentiment in the Guntur spot market.

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