24-Oct-2013
The absence of genuine buyers and positive factors to stimulate the sentiments continued to overshadow the market.
A close below Rs 160 level, in futures, is expected to induce further pressure, on the commodity technically, though the weekend covering purchases at lower levels might trigger, a short-term recovery in the days ahead.
Sheet rubber weakened to Rs 159.50 (Rs 160) a kg, according to traders.
The grade was quoted steady at Rs 160 both at Kottayam and Kochi, according to the Rubber Board. The trend was mixed.
November futures declined to Rs 159.79 (Rs 160.71), December to Rs 161.90 (Rs 162.68) and January to Rs 164.82 (Rs 164.93) while the February and March futures remained inactive on the National Multi Commodity Exchange. RSS 3 (spot) dropped to Rs 156.87 (Rs 157.80) at Bangkok. October futures closed at ¥ 244.0 (Rs 153.92) on the Tokyo Commodity Exchange.
Source:- thehindubusinessline.com
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