Agro Outlook
Chana prices closed higher 0.19 percent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX Chana futures for April 2015 contract closed at Rs. 3,607 per quintal, up by 0.19 percent, after opening at Rs. 3,598 against the previous closing price of Rs. 3,600. It touched the intra-day high of Rs. 3,634. Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices. India produces around 6 to 8 million tonnes and contributes around 70 percent of the total world production.
Energy
Natural Gas futures closed higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity as forecasts for cooler weather in parts of the US lifted the demand outlook for the heating fuel. Latest weather forecasting models called for colder temperatures in the US East Coast and the Midwest from April 4 to April 6, 2015. At the MCX, Natural Gas futures for April 2015 contract closed at Rs 167 per 1 kg, up by 0.18 percent after opening at Rs 166.6, against the previous closing price of Rs 166.7. It touched the intra-day high of Rs 169.3 till the closing.
Natural Gas futures closed higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity as forecasts for cooler weather in parts of the US lifted the demand outlook for the heating fuel. Latest weather forecasting models called for colder temperatures in the US East Coast and the Midwest from April 4 to April 6, 2015. At the MCX, Natural Gas futures for April 2015 contract closed at Rs 167 per 1 kg, up by 0.18 percent after opening at Rs 166.6, against the previous closing price of Rs 166.7. It touched the intra-day high of Rs 169.3 till the closing.
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