Guar seed futures advance 3.62 pc on spot demand

Guar seed prices strengthened by Rs 135 or 3.62 per cent to close at 3,868 per quintal in futures trade today as traders raised their bets, bolstered by a firm trend at the spot markets.

At the National Commodity and Derivatives Exchange, guar seed for delivery in November month advanced by Rs 135, or 3.62 per cent, to close at Rs 3,868 per quintal, with an open interest of 3,300 lots.

Also, the delivery for current month gained Rs 119, or 3.28 per cent, to end at Rs 3,752 per quintal, in an open interest of 8,000 lots.

Marketmen said raising of bets by participants coupled with restricted supplies from growing regions against rebound in demand in the spot markets, mainly supported the upside in guar seed prices in the futures market.

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