Guar gum prices remained lower for the second consecutive day by declining Rs 175 to Rs 9,175 pep quintal in futures trade today as investors continuously unwinding exposures, depressed by subdued export demand.
Marketmen said trimming holdings by the speculators in tune with thin export demand for oil drilling industries as well as lower trend in spot markets, held guar gum futures prices negatively for the second straight day today.
At the National Commodity and Derivatives Exchange counter, guar gum delivery for the November dipped further by Rs 175 or 1.88 per cent to Rs 9,145 per quintal, with an open interest of 970 lots.
Also, the delivery of the most traded October slipped by Rs 163 or 1.76 per cent to Rs 9,075 per quintal, with the business turnover of 569,165 lots.
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