Guargum gains more in futures trade

Guargum extended gains, with prices rising by Rs 140 to Rs 5,810 per quintal in futures trade today as participants built fresh bets, tracking a firming trend at the domestic spot market.
Besides, positive global cues supported the upside.
At the National Commodity and Derivative Exchange, guargum for delivery this month was trading higher by Rs 140, or 2.47 per cent, at Rs 5,810 per quintal, with an open interest of 663 lots.
Also, most-active March contracts rose Rs 110, or 1.90 per cent, to Rs 5,910 per quintal, in an open interest of 27,207 lots.
Marketmen said rising demand in physical and encouraging global cues mainly influenced guargum prices in futures trade here.