Guar gum futures spurt on export demand

Tracking a firming trend in global markets, guar gum prices flared up by Rs 67 to Rs 8,684 per quintal in futures trade today as participants widening their positions.

Marketmen said raising of bets by operators, driven by a firming trend overseas and strong export demand lifted guar gum prices in futures trade here.

Moreover, halt in supplies in domestic markets from producing belts enthused trading sentiments, they added.

At the National Commodity and Derivative Exchange, guar gum to be delivered in far-month November month contracts hardened by Rs 67 or 0.78 per cent to Rs 8,684 per quintal, in an open interest of 5,185 lots.

Likewise, the most-traded delivery in October month contract surged by Rs 62 or 0.73 per cent to Rs 8,558 per quintal, persisting an open interest of 44,585 lots.

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