Guar gum futures gain on positive demand

Guar gum prices on Thursday gained Rs 27 to Rs 5,504 per five quintal in futures trade as speculators increased their holdings on spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for July delivery traded higher 0.49 per cent, or Rs 27, to Rs 5,504 per five quintal with an open interest of 39,695 lots.

Likewise, the contracts for delivery in August rose by Rs 18, or 0.51 per cent, to Rs 5,550 per five quintal as open interest stood at 4,240 lots.

Analysts said after tracking firm physical market trend, traders raised their bets which led to rise in guar gum prices. PTI