Guarseed prices recovered by Rs 46, or 2.20 per cent, to Rs 2,138 per quintal in futures trade today as speculators covered their pending positions, driven by a weak trend in spot markets.
Guarseed prices continued to decline in the last 4-5 sessions as speculators were selling stocks.
At the National Commodity and Derivatives Exchange counter, guarseed prices for October-month contract recovered by Rs 46, or 2.20 per cent, to Rs 2,138 per quintal, with an open interest of 1,48,260 lots.
Current-month September contract also remained in keen demand and shot up by Rs.43, or 2.08 per cent, to Rs 2,111 per quintal, with an open interest of 1,24,830 lots.
