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Guar gum futures weaken on profit-booking

Press Trust of India  |  New Delhi 

Guar gum prices drifted lower by Rs 150 to Rs 6,955 per quintal in futures trading today after speculators booked profits at prevailing higher levels amid a weak trend at the physical markets.

Marketmen said profit-booking by traders and a steep trend at the spot markets due to fading demand against increased supplies, led to the fall in guar gum prices in futures trade here.

At the National Commodity and Derivative Exchange, guar gum for delivery in October contract dropped by Rs 150 or 2.11 per cent to Rs 6,955 per quintal, with an open interest of 42,280 lots.

Guar gum for delivery this month contracts also slipped by Rs 63 or 0.94 per cent to Rs 6,669 per quintal, in an open interest of 5,040 lots.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 11 2017. 12:22 IST