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Aravindan

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Kottayam Feb. 5 The market witnessed a bearish trend on Monday. The sentiments were deeply affected by an all-round decline in global rubber prices.

Sheet rubber moved down to Rs 99 a kg from Rs 101 and Rs 100.75 a kg respectively at Kottayam and Kochi on moderate selling from traders who were holding excess stocks. There was no genuine consumer buying on any grade even at lower levels, sources said.

Futures weak

The rubber futures also declined sharply in major commodity exchanges. On NMCE, the February contract finished weak at Rs 99 (Rs 102.22), March at Rs 101.75 (Rs 104.92), April at Rs 106.80 (Rs 110.48) and May at Rs 111 (Rs 114.50) per kg for RSS 4.The open interest stood at 13,409 (12,861) lots, while the turnover was 5,256 (2,875) lots.

The grade lost further to Rs 101.94 from Rs 104.70 a kg at its March contract (312 lots) on MCX.

The March futures for RSS 3 fell to 266.7 Yen (Rs 97.57) from 270.9 Yen a kg at TOCOM. RSS 3 (spot) closed at Rs 101.75 against Rs 103 a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 99 (101); RSS-5: 95 (96.50); ungraded: 93 (95); ISNR 20: 93.50 (94.50) and latex 60 per cent: 64.70 (66.30).

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