Guargum future up on physical markets sentiment

Guargum prices surged by Rs 150 to Rs 7,160 per quintal in future trade today as traders were raising their bets in line with firm trend in spot markets.
Marketmen said besides robust demand, tight supplies from growing regions in spot markets, mainly encouraged traders to built up long positions.
Reports of lower planting this season due to shifting of farmers to other profitable cash crops too influenced trading sentiments, they added.
At the National Commodity and Derivative Exchange, guargum delivery for July contract spurted by Rs 150 or 2.14 per cent to Rs 7,160 per quintal with an open interest of 438 lots.

Most active second contract October delivery gained by Rs 60 or 0.81 per cent to Rs 7,480 per quintal in an open interest of 50,682 lots.