Guar seed futures rise on fresh bets

Guar seed prices on Wednesday rose by Rs 72 to Rs 3,516 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 May contracts increased by Rs 72, or 2.9 per cent, to Rs 3,516 per 10 quintal with an open interest of 29,275 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