Rubber futures improve

Print this page Posted on : 08-28-2007 by recycleinme.com

The rubber futures turned better on Monday. Though most of the traders were in a holiday mood owing to Onam, sentiments remained positive following a better closing in global futures. The transactions were narrow.

The September contract improved to Rs.85.10 from Rs.84.49 a kg on MCX. On NMCE, the near month September contract finished better at Rs.85.51 (84.73), October contract at Rs.80.90 (80.28), November at Rs.80.05 (79.35) and December contract at Rs.79.90 (89.43) per kg for RSS 4. The transactions were quoted at 760 (642) lots.

OPEN INTEREST SLIPS

The open interest stood at 4,874 (4,958) lots with 2,508 (2,604) lots in September, 1,616 (1.612) lots in October, 601 (595) lots in November and 149 (147) lots in December on NMCE.

The September futures for RSS 3 firmed up to 240.5 Yen (Rs.84.83) a kg from 236 Yen a kg at TOCOM. According to reports the trendsetter finished higher ridden by a bullish mood in gold and oil futures.

The spot rubber market was closed on account of Onam.

Source : Business Line