Refined Soya Oil Recovers From Intraday Losses On Fresh Buying.

India's refined soya oil futures bounced back from the intraday losses in the afternoon sessions lead by fresh buying and short covering in the near month futures. Refined Soya Oil futures are weak fundamentally on higher imports, higher stock levels amid higher global oilseeds production estimation.

In today's early sessions, NCDEX Refined Soya Oil for the October delivery gained to the session high of Rs 480.60, up Rs 2.55 per 10 kg from the last close. The counter touched the low of Rs 476.60 during the intraday trading sessions. The open interest in the contract added 0.25 percent to 1,26,110 tonnes from 1,25,800 tonnes as on last day, indicating fresh buying. Volume traded as of now stood at 82,370 tonnes.

Malaysian futures were closed today because of Malaysia Day holiday. E-CBOT Soya Oil December contract is currently trading lower at 41.98, down 0.03 cents from last close.

Source : indiainfoline.com