Guargum futures regain on short covering
Guargum futures prices gained Rs 202 to Rs 10,800 per quintal today, following short covering by traders.
Market analysts said after yesterday's sell-off, traders preferred to cover their pending long positions, driven by a rising demand at spot markets.
At the National Commodity and Derivatives Exchange, guargum for August contract rose by Rs 202, or 1.91%, to Rs 10,800 per quintal, with an open interest of 510 lots.
Current month May's contract gained Rs 152, or 1.51%, to Rs 10,247 per quintal, clocking an open interest of 2,280 lots, while most active June month's contract rose by Rs 106, or 1.03%, to Rs 10,429 per quintal, showing an open interest of 19,185 lots.