Guar gum prices recorded a rise of Rs 25 per quintal in the futures trade Tuesday as traders built up long positions, thanks to strong export demand amid weakening rupee against dollar.
Marketmen said long positions created by speculators, driven by robust export demand from oil drilling industries, which attributed the rise in guar gum prices in futures trade here.
Besides, surging crude oil prices also influenced sentiments, they added.
At the National Commodity and Derivatives Exchange counter, guar gum for the most-traded delivery in October contract moved up by Rs 25, or 0.27 per cent, to Rs 9,351 per quintal with an open interest of 56,115 lots.
The delivery of the second contract November also gained by Rs 20, or 0.21 per cent, to Rs 9,465 per quintal in an open interest of 7,740 lots.
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