Cottonseed futures fall on selling pressure
Marketmen said profit selling at higher levels amid rising stocks and weak demand in physical markets, mainly influenced the trading sentiment.
By PTI | Updated:
NEW DELHI: Cottonseed prices dropped by Rs 28 to Rs 1,558 per quintal in the future trading today following heavy selling by traders on the back of weak domestic spot market cues.
Marketmen said profit selling at higher levels amid rising stocks and weak demand in physical markets, mainly influenced the trading sentiment.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for July contract dropped by Rs 28, or 1.77 per cent to Rs 1,558 per quintal, having an open interest of 32,180 lots.
Most active near May month contract fell by Rs 16, or 1.08 per cent to Rs 1,466 per quintal, with an open interest of 1,80,210 lots, while April contract slipped by Rs 15, or 1.02 per cent to Rs 1,460 per 100 kg in 3,780 lots.
Marketmen said profit selling at higher levels amid rising stocks and weak demand in physical markets, mainly influenced the trading sentiment.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for July contract dropped by Rs 28, or 1.77 per cent to Rs 1,558 per quintal, having an open interest of 32,180 lots.
Most active near May month contract fell by Rs 16, or 1.08 per cent to Rs 1,466 per quintal, with an open interest of 1,80,210 lots, while April contract slipped by Rs 15, or 1.02 per cent to Rs 1,460 per 100 kg in 3,780 lots.
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