 "Guargum rises 1% on buying at low levels")
Guargum prices gained Rs 110 to Rs 10,210 per quintal in futures trading today following short-covering by traders at existing lower levels.
Marketmen said in addition to fresh buying at prevailing lower levels, pick-up in demand and fall in supply of guarseed from growing regions in physical markets also supported the uptrend in future markets.
At the National Commodity and Derivative Exchange, guargum prices for April delivery recovered by Rs 110, or 1.09 per cent, to Rs 10,210 per quintal, with an open interest of 1,473 lots.
Besides, February contacts showed a rise of Rs 70, or 0.71 per cent, at Rs 9,950 per quintal in an open interest of 7,355 lots.
Marketmen said in addition to fresh buying at prevailing lower levels, pick-up in demand and fall in supply of guarseed from growing regions in physical markets also supported the uptrend in future markets.
At the National Commodity and Derivative Exchange, guargum prices for April delivery recovered by Rs 110, or 1.09 per cent, to Rs 10,210 per quintal, with an open interest of 1,473 lots.
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The March contract added Rs 80, or 0.80 per cent, to Rs 10,060 per quintal, having an open interest of 9,680 lots.
Besides, February contacts showed a rise of Rs 70, or 0.71 per cent, at Rs 9,950 per quintal in an open interest of 7,355 lots.