MTECHTIPS:Sugar up on festive demand

MTECHTIPS

Sugar up on festive demand

Sugar futures rose by Rs 12 to Rs 3,314 per quintal today after speculators enlarged positions amid expectations that festivals will raise the demand for the sweetener.
At the National Commodity and Derivatives Exchange, the December contract for sugar traded at Rs 12, or 0.36%, higher at Rs 3,314 per quintal, with an open interest of 19,300 lots.
The November contract gained Rs 4, or 0.12%, at Rs 3,378 per quintal, with an open interest of 41,490 lots.
Meanwhile, at Mumbai's Vashi wholesale market, medium sugar traded higher at Rs 3,550/3,701per quintal in yesterday's trade.

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