Guarseed futures weakens on profit taking

Guarseed prices softened by Rs 25, or 1.24 per cent, to Rs 1,984 per quintal in futures trading today as profit booking was seen on higher levels.

Marketmen said traders preferred to off-load their holdings at higher levels, which pulled down the prices.

Good rainfalls in growing regions such as Rajasthan too influnenced the trading sentiment, they said.

At the National Commodity and Derivatives Exchange counter, guarseed prices for December contract slipped by Rs 25, or 1.24 per cent, to Rs 1,984 per quintal, with an open interest of 5,230 lots.

Current September-month contract too eased by Rs 8, or 0.41 per cent, to Rs 1,937 per quintal, with an open interest of 44,600 lots.