Guar seed futures gain on spot demand

NEW DELHI: Guar seed prices on Monday rose Rs 72 to Rs 5,166 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for March delivery rose Rs 72 or 1.39 per cent to Rs 5,166 per 10 quintals with an open interest of 25,825 lots.

According to marketmen, speculators raised bets, tracking a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices. PTI