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Guar gum futures gain on spot demand

New Delhi,  Guar gum prices on Monday gained Rs 63 to Rs 5,815 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 April delivery traded higher 1.1 per cent, or Rs 63, to Rs 5,815 per five quintal with an open interest of 22,645 lots.

The contracts for delivery in May traded higher by Rs 62, or 1.06 per cent, at Rs 5,913 per five quintal as open interest stood at 31,285 lots.

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