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Guar gum futures gain on spot demand

Guar gum prices on Tuesday gained Rs 30 to Rs 6,004 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 September delivery traded higher 0.5 per cent, or Rs 30, to Rs 6,004 per five quintal with an open interest of 9,565 lots.

Likewise, the contracts for delivery in October traded up by Rs 31 or 0.51 per cent, at Rs 6,090 per five quintal as open interest stood at 41,895 lots.

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