Castorseed futures recovers on short covering

Written by Agencies | New Delhi | Updated: Mar 31 2011, 19:56pm hrs
Castorseed prices recovered by Rs 48 to Rs 5,140 per quintal in the futures trade on Thursday 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 per cent, to Rs 5,140 per quintal, with an open interest of 1,420 lots.

Similarly, prices for delivery in April moved up by Rs 9.50, or 0.19 per cent, to Rs 5,061 per quintal, with an open interest of 7,510 lots.