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Castorseed futures recover on short covering

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Press Trust of India Mumbai

Castorseed prices recovered by Rs 48 to Rs 5,140 per quintal in the futures trade today on low level buying.

Market analysts said after two days of decline, castorseed prices rose on pick-up in demand at existing lower levels.

Strong cues from the overseas markets also helped boost the trading sentiments, they added.

At the National Commodity and Derivatives Exchange, castorseed for delivery in June rose by Rs 48, or 0.94%, to Rs 5,140 per quintal, with an open interest of 1,420 lots.

The April contract moved up by Rs 9.50, or 0.19%, to Rs 5,061 per quintal, with an open interest of 7,510 lots.

 

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First Published: Mar 31 2011 | 1:48 PM IST

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