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Guar Gum futures regain on short covering

Press Trust of India  |  New Delhi 

gum prices recouped by Rs 38 to Rs 9,370 per in futures trade today as traders recovered their 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 gum futures to upward side.

At the National Commodity and Derivatives Exchange counter, 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 07 2018. 11:55 IST