Guar seed futures rise on fresh bets

Guar seed prices on Thursday rose by Rs 29 to Rs 3,913 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for August contracts increased by Rs 29, or 0.75 per cent, to Rs 3,913 per 10 quintal with an open interest of 29,330 lots.

Similarly, Guar seed for September delivery traded higher by Rs 44, or 1.13 per cent, to Rs 3,935 per 10 quintal with an open interest of 12,255 lots.Â

According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to rise in guar seed prices here.PTI