Guar seed futures climb 3% on positive physical mkt cues

Guar seed prices went up by 3 per cent to Rs 4,125 per quintal in futures trade today as participants created positions, taking positive cues from the physical markets.

A significant rise in guar seed prices was mostly attributed to big positions built up by participants following a firm trend at the spot markets on robust demand from guar gum makers amid a pause in supplies from growing belts, marketmen said.

At the National Commodity and Derivatives Exchange, guar seed to be delivered in this month's contracts rose by Rs 120, or 3 per cent, to Rs 4,125 per quintal, clocking an open interest of 360 lots.

Also, the contract for delivery in October spurted by Rs 119.50, or 2.86 per cent, to Rs 4,302 per quintal, with 1,01,940 open lots.