Guar seed futures spurt on spot demand

Guar seed prices strengthened by Rs 40 to Rs 3,898 per quintal in futures trade today as traders preferred to enlarge positions, bolstered by a firm trend in the physical markets.

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

At the National Commodity and Derivatives Exchange, guar seed for delivery in most-active October advanced by Rs 40, or 1.04 per cent, to Rs 3,898 per quintal, with an open interest of 82,640 lots.

Also, the delivery for November gained Rs 30, or 0.77 per cent, to Rs 3,938 per quintal, in an open interest of 8,087 lots.

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