Guar gum future recover on fresh buying

Guar gum prices recovered by Rs 74 to Rs 8,050 per quintal in future trading today on immense buying by speculators at prevailing levels, driven by emerging physical markets.
Marketmen said traders preferred to accumulate their short positions at existing levels taking sentiments from higher spot markets, mainly ascertained the rebound in prices here in future trading.
Apart from fresh export demand for oil drilling industries also helped to buoy uptick in future prices, they quoted.
At the National Commodity and Derivative Exchange counter, guar gum delivery for most traded first contract April month retook Rs 74 or 0.93 per cent to Rs 8,050 per quintal, with the business turnover of 45,425 open lots.

Also, the delivery for near contract may month reclaimed by same margins of 0.91 per cent to Rs 8,178 per quintal and open interest stood at 20,945 lots.