Castor seed gains by 2.3% on fresh buying

Castor seed prices surged by Rs 79 to Rs 3,540 per quintal in future trading today following low levels buying by traders in line with firm spot market cues.

 

Marketmen said traders preferred to built new positions at existing lower levels amid rising spot demand.

 

They said pick up in industrial demand against less supply in physical markets too influenced the sentiments.

 

At the National Commodity and Derivatives Exchange, castorseed for October contract spurted by Rs 79, or 2.28% to Rs 3,540 per quintal, having an open interest of 17,630 lots.

 

Most active near September contract rose by Rs 73, or 2.16% to Rs 3,459 per quintal, with an open interest of 1,52,310 lots.

 

Current August contract also showed a rise of Rs 69, or 2.08% at Rs 3,415 per quintal, in an open interest of 61,580 lots.