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Guar gum futures rise on firm export demand

Press Trust of India  |  New Delhi 

gum prices rose by Rs 187 to Rs 9,747 per in futures trade today on the accumulation of holdings, powered by a boost in export demand amidst falling domestic currencies against dollar.

Marketmen said, a hefty bounce in the export demand for the due to weakening of the rupee against the American units, motivated traders to build up positions, which kept the gum prices higher in futures trade.

At the National Commodity and Derivatives Exchange platform, gum delivery for the November contract shot up by Rs 187, or 1.96 per cent, to Rs 9,747 per with an open interest of 2,825 lots.

The delivery of October contracts sharpened by Rs 172, or 1.82 per cent, to Rs 9,641 per quintal, with an open interest of 64,170 lots.

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

First Published: Fri, August 10 2018. 12:30 IST