MUMBAI (Commodity Online): Technical buying on the NCDEX counter helped the Jeera futures to garner some modest gains in the morning trade on Wednesday.

NCDEX jeera March contract quoted at Rs 11,799 quintal, up Rs 93 and traded in the range of Rs 11,825- 11,666 a quintal. April contract moved up Rs 52 at Rs 12,220 a quintal. Volumes in the March and April contracts totalled 432 and 1,428 tons respectively.

Jeera futures recovered from the previous session’s fall due to renewed buying on the exchange. Increased momentum of fresh arrivals is sustained at the major market of Unjha.

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Local demand is supportive for prices but gains are remaining limited due to weak export demand and arrival pressure. The most active NCDEX April contract Jeera futures upon a lower opening at 11999 levels, made an intraday high at 12250 levels, higher than the previous session’s high of 12150 levels.

It made an intraday low at 11999 levels and settled the day at 12168 levels, with a positive change of 1.24%.

Jeera futures are expected to maintain its gradual uptrend during the day due to continued bargain buying on the exchange.

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