Cardamom prices fell by 1.26 %

Stock Market News: Cardamom prices fell by 1.26 % on Wednesday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in U.P. At MCX, Cardamom futures for March 2015 contract were trading at Rs. 1015.30 per kg, down by 1.26 %, after opening at Rs. 1030 against the last closing price of Rs. 1028.30. It touched the intra-day low of Rs. 1008 till the trading. (At 10.32 AM today). Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity. Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 % of the produce is consumed within the nation.

Coriander prices rose by 0.87 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the limited stocks on account of restricted arrivals from the major growing belts. Coriander futures for April 2015 contract was trading at Rs. 6,270 per quintal, up by 0.87 per cent after opening at Rs. 6,177 against the previous closing price of Rs. 6,216. It touched the intra-day high of Rs. 6,280 till the trading.

Copper prices rose by 0.25 per cent on Wednesday at the domestic markets after manufacturing activity in the New York region surged in February while consumer confidence in the US rose this month, signaling a pickup in the world’s biggest economy, lifting the demand outlook for the metal. The gauge measuring New York manufacturing rose to 63.1 in February from 44.5 in January, with a reading above 50 signaling expansion, while the index of consumer sentiment rose to 49.1 in March from 47.5 in February. At the MCX, copper futures for April 2015 contract were trading at Rs.367.55 per 1 kg, up by 0.25 per cent, after opening at Rs. 367.50 against the previous closing price of Rs. 366.65. It touched the intra-day high of Rs. 367.85 till the trading. 

Gold prices rose by 0.12 per cent on Wednesday at the domestic markets with investors focused on demand prospects in China and India, the world's two largest importers. However, gains were limited as a strong dollar reduced the appeal of the bullion as an alternative benefit. Powerfull dollar makes the precious metal expensive for those holding other currencies, thus reducing demand. Gold futures for April 2015 contract, at MCX, were trading at Rs. 26,460 per 10 grams, up by 0.12 per cent after opening at Rs. 26,411 against the previous closing price of Rs. 26,427. It touched the intra-day high of Rs. 26,475 till the trading.

Crude oil prices rose by 0.13 % on Wednesday at the domestic markets after industry data showed US oil inventories mixed in the previous week. The American Petroleum Institute said that crude oil stocks increased 2.9 million barrels previous week, while distillates slid 296,000 barrels and gasoline stocks gained profit of 530,000 barrels. The figures set the tone for more closely watched data from the US Department of Energy due on Wednesday. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 3,142 per barrel, up by 0.13 per cent, after opening at Rs. 3,148 against the previous closing price of Rs. 3,138. It touched the intra-day high of Rs. 3,149 till the trading.

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