According to informed sources, raids have been conducted by director, K Ahmed of FMC along with local enforcement officials. The news of FMC raids spread thick and fast across the various centres and trading halted in the kerb market. The move had stunned the trading community.

When contacted, ACE president Jayesh Shah said that FMC officials have seized Sauda books from some brokers, however what charges would be applied is not known, he added.

Meanwhile trading community was frightened after the raids. Trading ring of ACE suddenly looked deserted following the operations. Most of the brokers immediately disposed their Sauda documents. Trading at the Bhabhar parallel futures was also affected following the raids, it isgathered.

Why the FMC is not going to raid Bhabhar, which is the nerve centre of illegal futures? asked an angry broker. The reasons behind the raids yet to be known but traders suspected that an ex-director might have played his role.

Meanwhile The September futures witnessed hectic activity. The futures tumbled to Rs 1758 per quintal, however price rallied later on due to short covering, and closed at Rs 1781. Spot castorseed prices turned weak and were quoted around Rs 342-345 per 20 kg, while oil ruled relatively steady, traders said.