Guar seed futures dip

Guar seed prices fell by Rs 62 to Rs 4,148 per quintal in futures trade today on heavy off-loading of holdings by participants, driven by pessimistic physical sentiment.

Market players attributed the fall to heavy bouts of selling by investors in sync with downbeat sentiment at spot markets on bloated stock positions amid muted demand from guar gum makers.

At the National Commodity and Derivative Exchange platform, guar seed delivery for the second contract May month surrendered Rs 62 or 1.47 per cent at Rs 4,148 per quintal, in an open interest of 43,050 lots.

The delivery of the most traded first contract April month dropped by Rs 55.50 or 1.33 per cent to Rs 4,127.50 per quintal, with an open interest of 1,08,330 lots.