Extending its yesterday’s gains, sugar futures traded 0.20 per cent higher at Rs 2,956 a quintal on Friday on the National Commodity and Derivatives Exchange (NCDEX), even as it weakened at the spot markets on sluggish demand.
At the NCDEX, sugar for delivery in April rose by Rs 6, or 0.20 per cent, to Rs 2,956 a quintal, clocking a business turnover of 5,640 lots.
Similarly, the delivery for March contract also edged higher by Re 1 or 0.03 per cent to Rs 2,863 a quintal in a turnover of 23,870 lots.
Analysts said bargain buying by speculators at prevailing levels are attractive, influenced sugar prices at the futures trade here but subdued spot demand, limited the gains.