Guar seed futures rise on fresh bets

Guar seed prices on Thursday rose by Rs 68 to Rs 3,490 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for April contracts increased by Rs 68, or 1.99 per cent, to Rs 3,490 per 10 quintal with an open interest of 22,830 lots.

Similarly, guar seed for May delivery gained Rs 66, or 1.91 per cent, to Rs 3,530 per 10 quintal with an open interest of 35,660 lots. 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