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Guar seed futures rise on fresh bets

New Delhi, Guar seed prices on Thursday rose by Rs 65 to Rs 4,058 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 October contracts increased by Rs 65, or 1.63 per cent, to Rs 4,058 per 10 quintal with an open interest of 26,215 lots.

Similarly, Guar seed for November delivery traded higher by Rs 82, or 2.06 per cent, to Rs 4,071 per 10 quintal with an open interest of 26,820 lots.

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