Chilli low on fall in spot prices

MUMBAI: In domestic futures market, MCX registered a turnover of Rs 2,821.04 crore in the first session on Wednesday, up 7.2% from turnover in the corresponding session of the previous day. Bullion turnover was Rs 788.16 crore. Gold contracts, including gold mini, traded in a range of Rs 5 to 28 per 10 gm, with August gold contract gaining 0.3% at Rs 8,737 per 10 gm. Silver contracts, including silver mini, traded between Rs 55 and 93 per kg. September silver contract was up 0.44% at Rs 17,670 per kg.

MCX recorded the highest delivery of 57,030 kg of silver, valued at Rs 97.09 crore in its July 2007 contract. The previous high of 50,040 kg, valued at Rs 51.67 crore, was reported in May 2005. The settlement rate of the July silver contract, expired on July 5, was Rs 17,024 per kg.

In the base metals segment, copper contracts turnover was Rs 669.21 crore. Volumes were 21,049,000 kg and OI 15,733,000 kg. Copper August contract was up at Rs 319.7 per kg. Turnover of all zinc contracts was Rs 431.6 crore and nickel contracts clocked Rs 394.52 crore.

NCDEX registered a turnover of Rs 2,356 crore in the first session with active trades in guar seeds, pepper, chana, soya oil, rape mustard seed and jeera. Chilli hit a lower circuit following a fall in spot prices. Chilli July contract fell 3% at Rs 3,973 per quintal against Rs 4,093 the previous day. Refined soya oil moved up on firm international market. The July contract closed at Rs 497 per 10 kg against the previous close of Rs 494.95.

Guar seed closed up by 1% at Rs 1,652, clocking a volume of Rs 409 crore. Chana closed up at Rs 2,305, clocking a volume of Rs 279 crore. Jeera closed up at Rs 12,596, registering a volume of Rs 183 crore while pepper closed up at Rs 14,124, registering a volume of Rs 382 crore.