Futures End Marginally Higher, Fresh Buying In Oil

Refined soy oil futures ended marginally higher today, after the commodity slumped in the last session, on intense selling pressure amid hefty profit booking. Some bargain hunting emerged in intraday trades and positive overseas cues also acted in the commodity’s favor.

The NCDEX January futures have retreated from the threshold of Rs 532 –531 and it looks likely that the level is holding the key as far as the near term momentum is concerned.

The contract managed to clock a high of Rs 535 and eased in the closing hours. It closed the day at Rs 533.50, up Rs 2.15 per 10 kg with the open interest spurting o 60570 lots, gaining 0.82%.

NCDEX Soybeans also garnered some gains, closing up on fresh buying on double digit gains.