Guarseed futures slip on selling pressure

Guarseed prices fell by Rs 16 to Rs 2,419 per quintal in futures trade today on fresh selling by traders, driven by weak spot market sentiment.

According to market experts, weak demand from guargum making industries along with increased supply, pulled down the trading sentiment here in futures price of guarseed.

At the National Commodity and Derivatives Exchange counter, guarseed prices for delivery in February-month moved by Rs 16, or 0.66 per cent to Rs 2,419 per quintal, with an open interest of 18,170 lots.

Current December-month contract witnessed a fall of Rs 7 or 0.30 per cent at Rs 2,345 per quintal, with an open interest of 42,070 lots.

Most-active January contract dipped by Rs 14 or 0.58 per cent to Rs 2,386 per quintal, with an open interest of 1,68,050 lots.