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Guar gum futures gain on spot demand

Guar gum prices on Tuesday gained Rs 130 to Rs 6,778 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 November delivery traded higher 1.96 per cent, or Rs 130, to Rs 6,778 per five quintal with an open interest of 33,555 lots.

The contracts for delivery in December traded higher by Rs 140, or 2.08 per cent, at Rs 6,860 per five quintal as open interest stood at 20,545 lots.

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