The Hindu Business Line : Rubber futures gain marginally

The rubber futures recorded moderate gains on Tuesday. A sharp bounce back in Japanese futures catalysed the domestic sentiments encouraging the traders to take fresh positions in the raw material.

The price firmed up in all contracts on NMCE. The January contract finished the session at Rs 101.21 (Rs 98.46), February at Rs 102.60 (Rs 100.28), the most active March at Rs 105.50 (Rs 102.93) and April at Rs 107.91 (Rs 105.35) a kg for RSS 4. The February contract for RSS 4 was quoted at Rs 102.86 a kg against Rs 99.95 (468 lots) on MCX.

Spot market closed

According to market circles, profit booking at higher levels pruned the gains partially towards close.

The February futures for RSS 3 hit the upper circuit at 240.7 yen (Rs.89.97) against 230.7 yen a kg at TOCOM. The grade (spot) firmed up to Rs 86.49 from Rs 85.18 a kg at Bangkok. The spot rubber market remained closed on account of a State-wide hartal declared by the Merchants' Association.

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