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Guar gum futures gain on spot demand

New Delhi,  Guar gum prices on Tuesday gained Rs 65 to Rs 6,483 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 June delivery traded higher 1.01 per cent, or Rs 65, to Rs 6,483 per five quintal with an open interest of 41,195 lots.

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

The contracts for delivery in July traded higher by Rs 71, or 1.09 per cent, at Rs 6,580 per five quintal as open interest stood at 17,895 lots. PTI