Guar seed futures rise on fresh bets

New Delhi, Guar seed prices on Thursday rose by Rs 28 to Rs 3,957 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for February contracts increased by Rs 28, or 0.71 per cent, to Rs 3,957 per 10 quintal with an open interest of 55,590 lots.

Guar seed for March delivery traded up by Rs 33, or 0.83 per cent, at Rs 4,003 per 10 quintal with an open interest of 2,630 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 the rise in guar seed prices here. PTI