BULLS got in gear yesterday with the January contract making 182 points in a steady day of gains to make 10,500 at the close.
The close marks the sixth consecutive day of gains, taking the future on a 545-point or 5.5 per cent rise from 9,955 on December 21. Tuesday's gain was 178 points.
January futures opened strongly at 10,380 and made slow progress in steady morning volumes. The main rise came as overseas buying jumped during the afternoon session.
The premium over the cash at the close was 103 points against a 114 point premium on the close on Tuesday.
February futures rose 190 points to 10,550, a premium over the cash of 153 points. There was relatively strong activity in the February contract, indicating the high degree of bullishness there is at present in the futures market.
Turnover overall was relatively healthy, with 17,211 contracts changing hands. In January futures there were 15,708 contracts traded and in February there were 1,500.