Guar gum futures lift further on spot cues

Guar gum prices remained higher by Rs 54 to Rs 8,160 per quintal in futures trading today following expanding of positions by operators, influenced by firm physical markets.

Market players said continuous accumulation of positions by speculators, tracking a firm trend at the spot markets on restricted arrivals of guar seed amid an acceleration in export demand, kept guar gum prices positive higher for the second straight day today.

At the National Commodity and Derivative Exchange, guar gum for most-traded delivery in December spurted by Rs 54 or 0.67 per cent to Rs 8,160 per quintal, in an open interest of 62,330 lots.

The delivery for November also gained Rs 52 or 0.65 per cent to Rs 8,052 per quintal, having an open interest of 10,150 lots.

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