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Guar gum futures climb on fresh bets

Guar gum prices on Thursday gained Rs 23 to Rs 6,658 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 March delivery traded higher 0.35 per cent, or Rs 23, to Rs 6,658 per five quintal with an open interest of 50,640 lots.

Likewise, the delivery of April contracts surged by Rs 24, or 0.37 per cent, to Rs 6,737 per five quintal as open interest stood at 11,015 lots.

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