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Guar gum futures gain on spot demand

Guar gum prices on Thursday gained Rs 168 to Rs 6,540 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 2.64 per cent, or Rs 168, to Rs 6,540 per five quintal with an open interest of 39,925 lots.

The contracts for delivery in December rose by Rs 157, or 2.43 per cent, at Rs 6,610 per five quintal as open interest stood at 12,910 lots.

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