Guar seed futures rise on fresh bets

New Delhi, Guar seed prices on Tuesday rose by Rs 12 to Rs 3,940 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 December contracts increased by Rs 12, or 0.31 per cent, to Rs 3,940 per 10 quintal with an open interest of 7,630 lots.

Similarly, Guar seed for January delivery traded higher by Rs 18, or 0.45 per cent, to Rs 3,980 per 10 quintal with an open interest of 60,475 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