Guar gum futures gain on spot demand

Guar gum prices on Thursday gained Rs 56 to Rs 6,290 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 October delivery traded higher 0.9 per cent, or Rs 56 to Rs 6,290 per five quintal with an open interest of 48,000 lots.

Likewise, the contracts for delivery in November traded higher by Rs 53, or 0.84 per cent, at Rs 6,370 per five quintal as open interest stood at 3,440 lots.

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