Guarseed sheds 2.4% on weak spot cues

Stockists offload positions on bearish signals from physical market

Guarseed prices plummeted by Rs 115 to Rs 4,630 per quintal in futures trading today as stockists sold on the back of weak physical markets sentiment.

Marketmen said stockists offloaded their positions tracking bearish signals from the physical market, .

At the National Commodity and Derivatives Exchange, guarseed prices for April delivery lost Rs 115, or 2.42 per cent, to Rs 4,630 per quintal, with an open interest of 14 lots.

The most active January contract shed Rs 65, or 1.43 per cent, at Rs 4,490 per quintal, in an open interest of 12,433 lots.