Guar gum futures slide on weak export

Guar gum prices dived by Rs 158 to Rs 9,880 per quintal in futures trade today on sell-off bets by the investors dampened by negative physical cues amid weak export demand.

Marketmen said investors were down loaded holdings, influenced by subdued physical markets cues, driven by slackness in export demand from oil drilling industries at higher levels, mainly dragged down sentiments in guar gum futures prices.

At the National Commodity and Derivatives Exchange counter, guar gum delivery for the November tumbled by Rs 158 or 1.57 per cent to Rs 9,880 per quintal, with an open interest of 3,155 lots.

Likewise, the delivery of the most traded first contract October plummeted by Rs 146 or 1,47 per cent to Rs 9,799 per quintal, with the business turnover of 64,120 open lots.