Barley futures hit upper circuit, climb 4 per cent

NEW DELHI: Supported by strong demand at the physical market, barley prices went up by Rs 55, or 4 per cent to hit upper circuit at Rs 1436 per quintal in futures trading, as participants widened positions.

Marketmen said huge positions built up by participants, driven by strong demand at the spot markets from consuming industries mainly helped barley futures to hit upper circuit.

At the National Commodity and Derivatives Exchange, barley for delivery in far-month April next year, climbed by Rs 55, or four per cent to hit upper limit at Rs 1,436 per quintal, with an open interest of mere 90 lots.

Barley for delivery this month also rose by Rs 29, or 2.30 per cent to Rs 1,289 per quintal, in an open interest of 7,290 lots, while most-active November contract gained Rs 22.50, or 1.67 per cent to Rs 1,366 per quintal, clocking an open interest of 14,020 lots.