Guar gum futures gain on spot demand

Guar gum prices on Wednesday gained Rs 47 to Rs 5,558 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 August delivery traded higher 0.85 per cent, or Rs 47, at Rs 5,558 per five quintal with an open interest of 39,650 lots.

Likewise, the contracts for delivery in September went up by Rs 60, or 1.08 per cent, to Rs 5,615 per five quintal as open interest stood at 4,675 lots.

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