Kochi, Aug. 24 The pepper futures market on Monday crashed and hit the second circuit breaker on heavy liquidation by operators while there were no buyers. “The market has come down speculatively and, in fact, there was no reason for its fall,” market sources told Business Line.
September contract on NCDEX fell by Rs 626 to close at Rs 15,027 a quintal. October and November contracts dropped by Rs 638 and Rs 653 respectively to close at Rs 15,334 and Rs 15,672 a quintal.
September turnover on NCDEX went up by 3,167 tonnes to 8,468 tonnes while that of October by 1,857 tonnes to 4,061 tonnes. Turnover for November moved up by 205 tonnes to 246 tonnes. Thus, the total turnover increased by 5,334 tonnes to 12,922 tonnes. Total open interest declined by 31 tonnes to 12,498 tonnes.
Source : Business Line