Guargum futures weakens on profit-taking

Guargum prices turned weak by Rs 39 to Rs 4,715 per quintal in futures trading today on profit booking at existing higher levels.

Marketmen said traders preferred to book profits at prevailing higher levels in tandem with a fall in guarseed prices at physical markets.

Good rainfall in guarseed growing areas was another reason behind the downfall, they added.

At the National Commodity and Derivatives Exchange counter, guargum prices for the current October-month contract declined by Rs 39, or 0.82 per cent, to Rs 4,715 per quintal, with an open interest of 18,795 lots.

Most-active November contract too shed Rs 36, or 0.76 per cent, to Rs 4,726 per quintal, with an open interest of 31,325 lots.