Guarseed declines by Rs 106 on profit-booking

Guarseed declined by Rs 106 to Rs 6,781 per quintal in futures trade today amid profit-booking by traders at prevailing higher levels.

Marketmen said speculators opted to book profits at higher levels after guarseed futures hit the daily upper limit in the past two sessions, pulling down the prices. However, strong export demand limited the fall.

At the National Commodity and Derivatives Exchange, guarseed for February delivery lost Rs 106, or 1.54%, to Rs 6,781 per quintal, clocking an open interest for 33,660 lots.

In a similar fashion, guarseed futures for January contract delivery moved down by Rs 79, or 1.17%, to Rs 6,675 per quintal— with an open interest for 1,72,040 lots— while December contract guarseed shed Rs 20, or 0.34%, to Rs 6,530 per quintal in 28,980 lots.