Guar gum prices recouped by Rs 38 to Rs 9,370 per quintal in futures trade today as traders recovered their short sell at prevailing levels, induced by positive physical markets and pick up in export demand.
Marketmen said operators were building up fresh positions at prevailing levels after yesterday's sell-off backed by rising prices in the spot markets amidst rebound in export demand for oil drilling industries, which pulled back the sentiments in guar gum futures to upward side.
At the National Commodity and Derivatives Exchange counter, guar gum delivery for October revived by Rs 38 or 0.41 per cent to Rs 9,370 per quintal, clocking an open interest of 63,005 lots.
Meanwhile, the November rates increased by Rs 15 or 0.16 per cent to Rs 9,450 per quintal, in an open interest of 2,600 lots.
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