Castorseed futures hit upper limit, up 4% on brisk buying

Castorseed futures prices hit daily upper limit of 4 per cent today, following brisk buying by traders in line with firm overseas and domestic markets cues.

At the National Commodity and Derivatives Exchange, castorseed price for May contract shot up to hit a daily upper limit of 4 per cent by rising Rs 199.50 to Rs 5,198 per quintal, with an open interest of 370 lots. 

Prices for March contract jumped by Rs 132, or 2.58 per cent, to Rs 5,252 per quintal, with an open interest of 8,340 lots.   

The commodity for February contract moved up by Rs 79.50, or 1.51 per cent, to Rs 5,359 per quintal, clocking a business volume of 290 lots. 

Market analysts said low stocks position against brisk buying by consuming industries in physical markets and a firm global trend, mainly influenced the castorseed futures prices here.