Guar gum futures gain on spot demand

Guar gum prices on Monday gained Rs 168 to Rs 5,781 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 July delivery traded higher by 2.99 per cent, or Rs 168, at Rs 5,781 per five quintal with an open interest of 15 lots.

Likewise, the contracts for delivery in August gained Rs 149, or 2.6 per cent, to Rs 5,880 per five quintal as open interest stood at 37,025 lots.

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