Guar gum futures gain on short-covering

Guar gum prices rebounded by Rs 92 to Rs 7,973 per quintal in futures trade today as speculators covered their short positions at existing levels amid pick up in demand in spot markets and positive overseas cues.
Marketmen said the recovery in guar gum prices at futures trade was mostly attributed to covering of pending short positions by speculators on rising demand in the spot markets coupled with positive global cues.
At the National Commodity and Derivative Exchange, guar gum for delivery for most-traded June month contracts was trading higher by Rs 92, or 1.17 per cent, to Rs 7,973 per quintal, in an open interest of 52,140 lots.

Guar gum for delivery this month contracts also recovered by Rs 86 or 1.11 per cent to Rs 7,820 per quintal, depicting an open interest of 3,185 lots.