Guar seed futures rise over 2 pc on tight stocks

Guar seed prices jumped 2.15 per cent to Rs 4,321 per quintal in futures trade today following immense buying by investors tracking emerging physical markets.
Market players said widening of portfolios by the speculators in the wake of upbeat sentiments in spot markets due to tight ready stocks following restricted supplies from producing areas triggered by brisk demand from guar gum makers led to an upsurge in guar seed futures prices.
At the National Commodity and Derivative Exchange, guar seed delivery for March contract rose by Rs 91, or 2.15 per cent, to Rs 4,321 per quintal, with a business turnover of 8,520 open lots.

Meanwhile, the delivery of April contract hardened by Rs 68.50, or 1.61 per cent, to Rs 4,310 per quintal, with an open interest of 1,42,720 lots.