Commodities

Cotton, rubber futures open lower on MCX

Our Bureau Mangaluru | Updated on November 25, 2021

Jeera and guar gum futures opened lower

Cotton and rubber futures opened quoted lower on the Multi Commodity Exchange (MCX) during initial hours of trading on Thursday morning. Cotton futures quoted lower in line with the Intercontinental Exchange (New York), where prices declined a tad.

Rubber prices were down as crude oil prices dropped in the global market as traders awaited OPEC+ move to US, India and their allies deciding to release their crude oil reserves to tame prices.

On Thursday morning, the December futures of cotton of rubber were down by 0.25 per cent, and 0.71 per cent, respectively.

The December futures of cotton were trading at ₹32,240 against the previous close of ₹32,320, and the December futures of rubber were trading at ₹19,515 against the previous close of ₹19,654 in the initial hour of Thursday morning.

The December futures of zinc and nickel were the gainers on MCX on Thursday morning. The December futures of zinc were trading at ₹277.5 as against the previous close of ₹275.8, up by 0.62 per cent. The December futures of nickel were trading at ₹1,593.5 against the previous close of ₹1,585.8, up by 0.49 per cent.

NCDEX

On the National Commodities and Derivatives Exchange (NCDEX), jeera and guar gum futures opened lower on Thursday morning, and the dhaniya and turmeric (unpolished) futures were the gainers.

The December jeera contracts were trading at ₹16,225 on NCDEX against the previous close of ₹16,360, down by 0.83 per cent.

The December contracts of guar gum were trading at ₹10,863 against the previous close of ₹10,890, down by 0.25 per cent.

The December dhaniya futures were trading at ₹9,002 on NCDEX against the previous close of ₹8,944, up by 0.65 per cent. The December futures of turmeric (unpolished) were trading at ₹7,640 against the previous close of ₹7,622, up by 0.24 per cent.

Published on November 25, 2021

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