MUSTARD SEED DOWN MORE THAN 2% ON LONG LIQUIDATION
Date: 30/3/2012
Mustard seed futures plunged by more than 2% today as exchange has imposed the special margin on the long side trades of mustard seed contracts.
The latest circular from NCDEX stated that the special margin of 10% (in cash) on the Long side trades will be imposed on all the running contracts with the effect from March 31, 2012. This prompted the sharp selling in chana futures market.
The NCDEX Mustard seed April Benchmark contract decreased by Rs 103 per quintal to trade at Rs 3740 per quintal. The contract has pared 17000 contracts in open interest indicating long liquidation.
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