Refined soya futures gain 0.72% on strong demand

NEW DELHI: Refined soya oil prices gained 0.72 per cent to Rs 676 per 10 kg in futures market today as speculators created fresh positions, tracking a firm trend at spot market on strong demand in view of wedding season.

At the National Commodity and Derivatives Exchange, refined soya for delivery in March gained Rs 4.85, or 0.72 per cent to Rs 676 per 10 kg with an open interest of 103950 lots.

Similarly, oil for delivery in February moved up by Rs 2.10, or 0.31 per cent to Rs 684.75 per 10 kg in 25,930 lots.

Analysts said fresh positions built-up by speculators on the back of strong demand supported by ongoing wedding season mainly led to rise in refined soya oil prices at futures trade.