Guarseed recovers on low level buying

Feb, March contracts up more than 2% each on restricted supplies

Guarseed prices recovered by Rs 105 to Rs 4,860 per quintal in futures trade today as speculators enlarged their positions in line with firm spot markets trend.
    
Marketmen said buying at prevailing lower levels against restricted supplies and pick up in demand in physical markets mainly supported the uptrend.
    
At the National Commodity and Derivatives Exchange, guarseed prices for March delivery improved by Rs 105, or 2.21 per cent, to Rs 4,860 per quintal, clocking an open interest of 13,746 lots.
    
The February contract added Rs 100, or 2.13 per cent, at Rs 4,790 per quintal, revealing an open interest of 13,406 lots.