Pulses, spices post smart gains, soya takes a knock
By TNN |
Highlights
MUMBAI: The pulses complex witnessed brisk deals on NCDEX on Friday. Total volumes, of all commodities, clocked up to the first trading session on the exchange were Rs 2,017 crore. Urad and tur were up, while chana fell.
The benchmark urad February contract was up 1.3% at Rs 2,892 per quintal, while tur for February delivery was up 1.1% at Rs 2163 and the March contract edged up 1.4% at Rs 2,375 per quintal. Tur looks very bullish on the back of depleting production. This year���s production is expected at 17-19 lakh tonnes against 23-25 lakh tonnes normally,��� said Harish Galipelli, head, research at Karvy Comtrade.
Spices also saw movement with both pepper and jeera rising. Pepper, say analysts, has been buoyed mainly by speculative activity. Pepper for February delivery was up one-and-half per cent at Rs 11,484 per quintal. Jeera for February delivery was up seven-tenths of a per cent at Rs 9,188.3 per quintal.
Soyabean February contract was down by nearly Rs 12 at Rs 1,428 per quintal, while soya oil was down five points at Rs 463 per 10 kg. The sentiment is bearish in the soya complex because of the dip in the FOB (free on board) price of soya oil in Argentina to $615 per tonne from $655 a tonne over the past two weeks.
At NCDEX, 608 members (2,743 users) participated in trading and put in more than 69,350 trades. Among industrial commodities, gold buying was dull in the domestic market as prices inched upward. Gold is up at $628.5 an ounce in New York. Traders are looking for opportune dips, to purchase the yellow metal.
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Gold climbed to its highest level in two weeks on Thursday. In the domestic futures market, gold for February delivery was trading at Rs 9,061 per 10 gm at 6.30 pm IST, up Rs 4 from Thursday���s close. The volumes were at 6,035 kg. Silver was at Rs 19,022 per kg, up Rs 109. Zinc was trading at Rs 162 with volumes of 5,190 kg. Copper traded marginally higher at Rs 248 per kg, with volumes at 35,012 kg.Meanwhile, spot gold prices surrendered a part of its overnight gains after a fall in international prices. In Mumbai, spot gold (99.5) dropped Rs 55 per 10 gm to Rs 9,050. Ready silver (.999) also lost Rs 155 before closing at Rs 19,260 per kg.
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