Guargum futures spurt as speculators build up position

Image
Press Trust of India New Delhi
Last Updated : Jun 22 2016 | 1:57 PM IST
Guargum prices surged by Rs 130 to Rs 5,490 per quintal in future trading today as participants created fresh positions at prevailing levels amid rising export demand.
At the National Commodity and Derivative Exchange, guargum for delivery in most-active July month was trading notably higher by Rs 130, or 2.43 per cent to Rs 5,490 per quintal, clocking an open interest of 37,130 lots.
Also, the commodity for delivery in far-month October rose by Rs 130, or 2.27 per cent to Rs 5,850 per quintal with an open interest of 20,854 lots.
Marketmen building up fresh positions by speculators at prevailing levels coupled with pick up in export demand, mainly led to rise in guargum prices at futures trade.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 22 2016 | 1:57 PM IST

Next Story