Guar gum prices bounced by Rs 231 to Rs 9,845 per quintal in futures trade today on increased buying by traders on the back of a firming trend at the physical markets amid robust export demand.
Marketmen said strong export demand from oil drilling industries and depreciation in the rupee value against the US Dollar amid restricted arrivals of guar seed in the spot markets, influenced guar gum prices in the futures trade.
At the National Commodity and Derivatives Exchange, guar gum to be delivered in November shot up by Rs 231, or 2.40 per cent, to Rs 9,845 per quintal, having an open interest of 2,960 lots.
Guar gum for October contracts spurted by Rs 155, or 1.61 per cent, to Rs 9,777 per quintal, in an open interest of 63,490 lots.
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