Guar gum futures gain on spot demand

New Delhi,  Guar gum prices on Monday gained Rs 89 to Rs 6,077 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 December delivery traded higher 1.49 per cent, or Rs 89, to Rs 6,077 per five quintal with an open interest of 3,575 lots.

The contracts for delivery in January traded higher by Rs 97, or 1.6 per cent, at Rs 6,158 per five quintal as open interest stood at 50,750 lots.

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