Cardamom futures rise amid pickup in spot demand

Cardamom futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices.

 At the MCX, cardamom futures for August 2017 contract was trading at Rs 1162 per kg, up by 1.56 per cent, after opening at Rs 1150, against a previous close of Rs 1144.20. It touched the intra-day high of Rs 1165.

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Rupee begins week on positive note, opens 4 paise higher at 64.11/$

2017_2image_09_33_51072771635753628-llThe Indian rupee started off the week on a positive note. It has opened at 64.11 against the US dollar, up 4 paise from Friday’s closing value of 64.15.

Pramit Brahmbhatt of Veracity feels the rupee will trade positive below 64.20 against the US dollar.

Weak Dollar Index will help rupee to appreciate further, he said.

Trading range for the spot USD-INR pair will be 63.80-64.20 per dollar, according to him.

 

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