Guar gum futures shrink on rising inventories

Guar gum prices slumped by Rs 106 to Rs 7,951 per quintal in futures trade today as traders opted to reduce exposure, triggered by rising inventories.

Market players said, cutting down of bets by speculators in view of mounting stocks in the spot markets on relentless supplies from growing, mainly dampened trading sentiments here in future market.

Besides, muted spot as well as export demand kept traders on the sideline, they added.

At the National Commodity and Derivatives Exchange, guar gum for delivery in November dipped Rs 106, or 1.32 per cent, to Rs 7,951 per quintal, with an open interest of 13,875 lots.

Also, October delivery dropped by Rs 82, or 1.03 per cent, to Rs 7,860 per quintal, with the business turnover of 41,135 lots.

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