Guarseed futures weaken on profit-taking

Guarseed prices fell by Rs 18, or 0.86 per cent, to Rs 2,054 per quintal in futures trading today after speculators booked profits at existing higher levels.

At the National Commodity and Derivatives Exchange (NCDEX) counter, guarseed for delivery in October contract fell by Rs 18, or 0.86 per cent, to Rs 2,073 per quintal, with an open interest of 1,10,130 lots.

In similar fashion, current-month September contract too eased by Rs 16, or 0.77 per cent, to Rs 2,054 per quintal, with an open interest of 1,33,250 lots.

Marketmen said emergence of profit-taking by speculators after yesterday's rise, led to a fall in guarseed prices at futures market here .