Guar seed futures rise on fresh bets

New Delhi, Guar seed prices on Monday rose by Rs 25 to Rs 3,977 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 October contracts increased by Rs 25, or 0.92 per cent, to Rs 3,977 per 10 quintal with an open interest of 38,315 lots.

Similarly, Guar seed for November delivery traded higher by Rs 20, or 0.5 per cent, to Rs 3,990 per 10 quintal with an open interest of 15,625 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