Business Daily from THE HINDU group of publications
Thursday, Oct 05, 2006
ePaper
Business Daily from THE HINDU group of publications Thursday, Oct 05, 2006 ePaper |
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Agri-Biz & Commodities
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Rubber Spot rubber steady Aravindan
Kottayam , Oct. 4 Spot rubber showed a steady trend on Monday. Sharp declines in gold and oil futures kept overseas indices under pressure triggering heavy long liquidation at higher levels. The dull signals from the international scene put a halt to the domestic buying interest but the market sustained at the prevailing levels due to the absence of quantum sellers. Sheet rubber closed static at Rs 78.50 a kg at Kottayam. But the grade improved by 50 paise to Rs 79 a kg at Kochi reacting closely to the domestic futures
Futures improve
The rubber futures moved up possibly on speculative buying even in the absence of strong overseas support. The October contract was quoted at Rs 79.65 (Rs 78.35), November at Rs 76.50 (Rs 75.25), December at Rs 78 (Rs 76.10) and January at Rs 79 (Rs 77.40 ) per kg for RSS 4 on NMCE. Spot prices were (Rs a kg): RSS-4: 78.50 (78.50); RSS-5: 77.50 (77.50); ungraded: 76.50 (76.50); ISNR 20: 77 (77) and latex 60 per cent: 60.50 (60.50).
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