Guar gum futures extend gains on spot cues

Guar gum prices rose by another Rs 73 to Rs 7,760 per quintal in futures trade today as traders indulged in creating long positions, triggered by a firm trend at the physical markets.

At the National Commodity and Derivative Exchange, guar gum delivery for the immediate contracts spurted by Rs 73 or 0.95 percent to Rs 7,760 per quintal, having an open interest of 20,330 lots.

Also, guar gum for most-traded delivery in December hardened by Rs 55 or 0.70 per cent to Rs 7,880 per quintal, with an open interest of 49,855 lots.

Market players attributed persistent upsurge in guar gum prices in futures trade a firm trend at the spot markets on export demand amid restricted arrivals from producing belts.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)