Guar seed futures gain on fresh bets

Guar seed prices on Friday rose by Rs 30 to Rs 4,096 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for January contracts rose by Rs 30, or 0.74 per cent, to Rs 4,096 per 10 quintal with an open interest of 980 lots.

Similarly, guar seed for February delivery gained Rs 8 to Rs 4,092 per 10 quintal with an open interest lots of 89,150.

According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to rise in guar seed prices here. PTI