Guar gum futures rise on upbeat physical cues

Guar gum prices enquired higher by Rs 28 to Rs 8,629 per quintal in futures trade today on expanding of exposures by traders, guided by emerging physical markets amid rising export demand.
Marketmen said speculators were enlarging their bets on the back of strong physical cues due to robust export demand for oil drilling industries, which led to the uptrend in guar gum futures prices.
At the National Commodity and Derivative Exchange platform, guar gum delivery for January contract improved by Rs 28 or 0.33 per cent to Rs 8,629 per quintal, clocking an open interest of 64,435 lots.
The guar gum delivery for February contract also gained by Rs 28 or 0.32 per cent to Rs 8,746 per quintal, depicting an open interest of 10,845 lots.