Guar seed futures rise on fresh bets

Guar seed prices on Wednesday rose by Rs 28 to Rs 3,909 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for August contracts increased by Rs 28, or 0.72 per cent, to Rs 3,909 per 10 quintal with an open interest of 24,790 lots.

Similarly, guar seed for September delivery traded higher by Rs 39, or 1 per cent, to Rs 3,945 per 10 quintal with an open interest of 17,345 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 the rise in guar seed prices here. PTI