Guargum futures up 6% on positive global cues

Guargum futures rose six per cent to trade at Rs 9,430 per quintal today as speculators widened their positions, tracking firming trend at spot markets and positive global cues.
Marketmen said that apart from restricted arrivals at the spot markets from growing regions, spurt in demand from consuming industries helped guargum to hit upper circuit in futures trade.
Besides, pickup in export demand also influenced guargum prices, they said.
At the National Commodity and Derivatives Exchange, guargum delivery in November shot up by Rs 530, or almost 6 per cent to Rs 9,430 per quintal, clocking an open interest of 10,133 lots.

Also most-active October delivery soared by Rs 520, or 5.91 per cent to Rs 9,320 per quintal, with an open interest of 15,508 lots.