Guar gum futures gain on spot demand

New Delhi,  Guar gum prices on Thursday gained Rs 38 to Rs 6,419 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 May delivery traded higher 0.6 per cent, or Rs 38, to Rs 6,419 per five quintal with an open interest of 10 lots.

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

The contracts for delivery in June traded higher by Rs 54, or 0.84 per cent, at Rs 6,505 per five quintal as open interest stood at 49,985 lots. PTI