PTI

Barley turns weak in futures trade on profit-taking

Wed, Nov 4 12:38 PM

New Delhi, Nov 4 (PTI) After witnessing winning streak for two-sessions barley turned weak and traded 1.81 per cent down as speculators preferred to book profits at existing higher levels. Marketmen said emergence of profit-taking at higher levels by speculators mainly led to decline in barley prices in futures trading.

Increased supply and slackness in demand in spot markets also put some pressure on barley, they added. At the NCDEX counter, barley for delivery in December contract fell by 1.81 per cent to Rs 1,050 per quintal after moving between Rs 1,076 and Rs 1,048.20.

The contract has an open interest in 8,660 lots. Similarly, barley for far-month April contract moved down by 0.20 per cent to Rs 1,095 per quintal.

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