Guar seed futures spurt on positive spot cues

Guar seed prices went up by a whopping Rs 93 to Rs 4,058 per quintal in futures trading today as traders engaged in expanding their holdings, taking positive cues from spot markets.

Marketmen said building up of positions by participants in sync with a firm trend at the physical markets where prices rose on fall in supplies from growing belts and strong demand from guar gum makers, influenced guar seed prices in futures market.

At the National Commodity and Derivative Exchange, guar seed for November delivery contracts moved up by Rs 93 or 2.35 per cent to Rs 4,058 per quintal, depicting an open interest of 8,320 lots.

Guar seed for most-active October contracts delivery too looked up by Rs 82 or 2.09 per cent to Rs 4,014 per quintal, having an open interest of 88,270 lots.

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