Guarseed futures up on fresh buying

Guarseed prices improved by Rs 24 to Rs 2,034 per quintal in the futures trading today following fresh buying by traders amid firm spot market demand.

Apart from firm spot market cues on traders buying at the existing lower levels, restricted arrivals further fueled the uptrend.

At the National Commodity and Derivatives Exchange counter, guarseed prices for the contract of most-active October increased by Rs 24, or 1.19 per cent, to Rs 2,034 per quintal, with an open interest of 1,90,630 lots.

November contract also remained in keen demand and went up by Rs 16, or 0.82 per cent, to Rs 1,963 per quintal, with an open interest of 1,12,990 lots.