Pepper May contract up 3%, jeera spurts

MUMBAI: Gold traded in a range of $689 through Monday, up on the back of a weak dollar. On the domestic futures market, MCX bullion turnover by the end of the first session was Rs 1,569.3 crore against Rs 891.02 crore in the comparable session last Friday.

In the metal segment, copper contracts accounted for turnover of Rs 868.17 crore against Rs 1,241.69 crore in the comparable session on Friday. Turnover across all zinc contracts was Rs 385.24 crore against Rs 658.84 crore and nickel contracts traded Rs 96.20 crore against Rs 198.41 crore. MCX recorded total turnover of Rs 3,492.29 crore up to 5 pm on Monday.

On NCDEX, pepper May contract moved up by 3% backed by strong fundamentals. The commodity clocked volumes of Rs 633 crore. The May contract closed at Rs 16,135 per quintal against the previous close of Rs 15,617 per quintal. Even the June contract closed up by 3%.

Jeera was also up and the May contract closed at Rs 14,214 against the previous close of Rs 14,137 per quintal. Jeera did a total volume of Rs 562 crore. A total volume of Rs 3,215 crore was registered on NCDEX with active trade in jeera, guar seed, pepper, refined soy oil and chana.

Guar seed that did a volume of Rs 767 crore was marginally down and the May futures contract close at Rs 2,100 per quintal as against the previous close of Rs 2,146. Among other commodities refined soy oil did a volume of Rs 186 crore while chana did a volume of Rs 408 crore. Chana May contract closed up by almost 1% at Rs 2,490 per quintal as against previous close of Rs 2,467 per quintal.