Rubber extends losses amid Covid 2.0 concerns: How to trade
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Synopsis
The March 31 contract quoted at Rs 16,200, down Rs 551 or 3.29 per cent from its previous close. In the spot market, rubber quoted at Rs 16,157 per quintal at last count, down Rs 187 or 3.30 per cent from its previous close.
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Rubber has fallen sharply in the past few sessions, retreating 8.67 per cent from the year s highest level so far logged on April 5.
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Rubber prices on Monday tanked more than 4 per cent amid thin trade, as a surge in Covid-19 infections added to concerns about business activity and overall economic recovery. MCX rubber for April delivery traded Rs 664 or 4.02 per cent down at Rs 15,850 per 100 kg in afternoon deals. Earlier on Monday, it had moved in a Rs 602 range between Rs 15,600 and Rs 16,202 against its previous close at Rs 16,514 per quintal.