Mentha Oil Futures Gain Traction On Short Covering (25-Jan-2012)
Mentha oil futures gained traction on the back of short covering which was led by the rising demand from the pharmaceutical industries. However, the trend for the commodity is likely to remain very volatile in the short term. Withdrawal of additional margins on Buy/Sell side of 5% and removal of special margin on buy side of 10% has also supported the market sentiments for Mentha Oil.
The contract for January delivery was trading at Rs 1477.40, up by 1.17% or Rs 17.10 from its previous closing of Rs 1460.30. The open interest of the contract stood at 2125 lots.
The contract for February delivery was trading at Rs 1507.00, up by 1.26% or Rs 18.70 from its previous closing of Rs 1488.30. The open interest of the contract stood at 2667 lots on MCX.
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