Pepper Futures Bounce Back (04-Mar-2010)
The Pepper futures yesterday bounced back due to bullish activities.
The market, which witnessed some decline the day before, gained following the bullish activities at a time when the fundamentals remained unchanged, market sources said.
The turnover surged by 75 per cent from 3,539 tonnes to 6,208 tonnes yesterday.
The total open interest grew by 129 tonnes to 9,919 tonnes. Moreover, the March open interest fell by 385 tonnes while of April grew by by 475 tonnes, thus indicating a switch-over. Thus, there was liquidation in March and switching over to April.
Meanwhile, the March contract on NCDEX grew by 284 tonnes to close at Rs12,984 a quintal. Also, the April and May surge by Rs 298 and Rs 267 respectively to close at Rs 13,240 and Rs 13,500 a quintal.
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