Castorseed slips in futures trade on profit-booking

Amid profit-booking by speculators and weak spot demand, castorseed prices were down by Rs 1.13 per cent to Rs 4,210 per quintal in futures trade today.



At the National Commodity and Derivatives Exchange counter, castorseed delivery in March month contracts weakened by Rs 48, or 1.13 per cent to Rs 4,210 per quintal, in an open interest of 54,710 lots.



On similar lines, delivery in February contracts dropped by Rs 44, or 1.04 per cent to Rs 4,178 per quintal, with an open interest of 1,14,770 lots.



Marketmen said emergence of profit-booking by speculators after recent gains and weak trend at spot markets mainly led to the fall in castorseed prices at futures trade here. Further, easing export demand also weighed on trading sentiments, they said.



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Posted in: Indian Market Tips