Guar gum futures rebound on firm spot cues

Reversing two days of losses, guar gum futures rebounded by Rs 85 to Rs 9,046 per quintal today after speculators raised bets at lower levels amid a firming trend at the physical markets and pick up in export demand.

At the National Commodity and Derivatives Exchange, guar gum delivery for delivery in October contract improved by Rs 85, or 0.95 per cent, to Rs 9,046 per quintal with a business turnover of 59,610 open lots.

Also, the delivery in November contracts advanced by Rs 33, or 0.36 per cent, to Rs 9,143 per quintal with an open interest of 1,090 lots.

Marketmen said building up of fresh positions by investors at existing levels, tracking a firm trend at the spot markets on acceleration in export demand, led to the rise in guar gum prices in futures trade here.