Silver prices rose to Rs 34,770 per kg on March 19 as participants increased their long positions as seen by the open interest. The white metal gained on bottom fishing after it dropped to 11-year low in yesterday session in the international market.
In the futures market, silver for May delivery touched an intraday high of Rs 34,980 and a low of Rs 33,711 per kg on the MCX. So far in the current series, the precious metal has touched a low of Rs 33,580 and a high of Rs 50,123.
Silver delivery for May delivery gained Rs 984, or 2.9 percent, to Rs 34,891 per kg at 20:00 hours IST in a business turnover of 8,522 lots. The precious metal July contracts jumped Rs 647, or 1.88 percent, to Rs 35,069 per kg in a business turnover of 375 lots.
The value of May and July contracts traded so far is Rs 2,119.26 crore and Rs 78.58 crore, respectively.
The volatility index is up 12.71 percent at 72.09 level.
The stop gainers included ITC, Hero MotoCorp, Bharti Airtel, Kotak Mahindra Bank and Infosys while the top losers included Maruti Suzuki, Axis Bank, M&M, Tech Mahindra and Bajaj Finance.
The stocks which moved the most with respect to volumes included Vodafone Idea which was up 6 percent. It was trading with volumes of 69,405,744 shares, compared to its five day average of 137,829,265 shares, a decrease of -49.64 percent.
YES Bank stock price was down 11 percent. It was trading with volumes of 16,053,611 shares, compared to its five day average of 27,911,783 shares, a decrease of -42.48 percent.
Share price of State Bank of India shed 3 percent with the stock trading with volumes of 6,087,575 shares, compared to its five day average of 4,931,061 shares, an increase of 23.45 percent while ITC was trading with volumes of 2,296,706 shares, compared to its five day average of 1,794,417 shares, an increase of 27.99 percent. The stock jumped over 6 percent.