Barley futures regain on fresh buying

Written by Agencies | New Delhi | Updated: Jun 28 2011, 21:15pm hrs
Barley prices recovered by Rs 24 to Rs 1,372 per quintal in futures trading on Tuesday on short covering by traders at prevailing lower levels.

Market analysts said traders enlarged their holding at persisting lower levels after Monday's sell-off, which led to the rise in prices.

Lower supply and pick-up in spot markets demand also influenced the trading sentiment, they added.

At the National commodity and Derivatives Exchange, barley prices for delivery in August gained Rs 24, or 1.78 per cent, to Rs 1,372 per quintal, with an open interest of 1,090 lots.

Likewise, prices for July found fresh buying support and improved by Rs 22.40, or 1.68 per cent, to Rs 1,354.20 per quintal, with an open interest of 9,790 lots.