Cardamom futures gained on fresh buying at lower price level
Posted By: Religare
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Yesterday, Cardamom futures rebounded in the domestic market, after falling 3 per cent in previous session, due to enlarged fresh long positions by the speculators at existing lower price level, driven by firm spot demand. The prices of June contract gained as much as 4 per cent, hit upper circuit, to Rs. 977.10 per kg on the Multi Commodity Exchange (MCX). Moreover, lower stocks positions in the spot market due to restricted arrivals from the major producing regions also kept the prices in positive zone.
AT MCX, cardamom for June contract closed at Rs. 976.20 per kg, up by 4.0 per cent, after opening at Rs. 931.00 against the previous closing price of Rs. 939.50. It touched the intra-day high of Rs. 977.10 with a business volume of 1,358 lots.
While, cardamom for July delivery closed at Rs. 989.20 per kg, up by 3.98 per cent, after opening at Rs. 937.10 per kg against the previous closing price of Rs. 951.30 per kg. It touched the intra-day high of Rs. 989.40 with a business volume of 694 lots.