Guargum futures extend gains, rise Rs 160

Rising for the third straight day, guargum added another Rs 160 to Rs 9,950 per quintal in futures trading as speculators indulged in enlarging their bets, driven by reports of deficient rains in growing regions.
Marketmen said huge positions built up by speculators following reports of scanty rains in growing regions - Rajasthan and Gujarat - affecting standing crops of guarseed, mainly influenced guargum prices at futures trade here.
Besides, pick up in export demand supported the upside in guargum prices, they added.
At the National Commodity and Derivatives Exchange, guargum for delivery in far-month December contracts rose by another Rs 160, or 1.63 per cent to Rs 9,950 per quintal, in an open interest of 656 lots.

Similarly, the most-active delivery in October was trading higher by Rs 90, or 0.94 per cent to Rs 9,680 per quintal and open interest stood of 16,920 lots.