Guarseed up on brisk buying, low inventories

Guarseed futures prices flared up by Rs 91 to Rs 4,479 per quintal today on brisk buying supported by firm domestic markets cue.

Market analysts said heavy buying by traders on the back of short supply and pick-up in demand at spot markets, mainly ifluenced the trading sentiments.

Rising export demand too pushed up the trading sentiments, they said.

At the National Commodity and Derivatives Exchange, October guarseed surged Rs 91, or 2.07%, to Rs 4,479 per quintal, clocking an open interest of 1,454,720 lots.

The November contract climbed up by Rs 81, or 1.98%, to Rs 4,167 per quintal, clocking an open interest of 74,930.

Prices for February contract also rose up by Rs 84, or 2.01%, to Rs 4,270 per quintal, with a business volume of 2,410 lots.