Breaking News

You are here » Indian-Commodity  :  Commodities  :  Turmeric Futures Bounce Back Owing To Short Covering

09-May2011

Turmeric Futures Bounce Back Owing To Short Covering

Turmeric futures shot in trade owing to the short covering by the investors at technically oversold zone. However, the reports of higher produce of turmeric restricted the commodity gains. As per trade sources, turmeric production in 2011 is estimated around 65 lakh bags against 45-48 lakh bags last year (Each bag=70Kg).

The contract for May delivery was trading at Rs 8524.00, up by 0.64% or Rs 54.00 from its previous closing of Rs 8470.00. The open interest of the contract stood at 12185 lots.

The contract for June delivery was at Rs 8400.00., up by 0.46% or Rs 54.00 from its previous closing of Rs 8354.00. The open interest of the contract stood at 7170 lots on NCDEX.

Related News

View all news

BT Cotton Seeds Businesses Targeting Earnings Of Rs 700 Crore This Season

BT Cotton seeds organizations are targeting earnings of Rs 700 cr this season as a result of a rise ......

Gold Challenges To Maintain Earlier Increases As The Problems In Europe Prolongs

Gold prices surrounded reduce on Monday because the euro solved their deficits in opposition to the ......

Copper Seems To Lengthen Uptrend As Dollar Recoils

Copper rates were able to lengthen the uptrend for 3rd instantly period on Monday, as traders proved......

Top News

View all news

Shriram City Union Finance planning to raise up to Rs 500 crore

Shriram City Union Finance is planning to raise funds up to Rs 500 crore. The company intends to issue and allot on private placement basis 5,000 number of secured non-convertible redeemable debentures......

TCS features as star performer in Digital Workplace Services by Everest Group

Tata Consultancy Services (TCS) has been recognized as a leader and Star Performer for the second year in a row in the Everest Group PEAK Matrix for Worldwide Digital Workplace Services. In an assessment......

Tribhovandas Bhimji Zaveri opening 38th store in Uttar Pradesh

Tribhovandas Bhimji Zaveri is opening its 38th store at G-31 & G-32 consisting of Basement Ground Floor & First Floor Noida, in state of Uttar Pradesh on August 18, 2018.Earlier, the company......