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Guar gum futures succumb to profit booking

Press Trust of India  |  New Delhi 

gum prices retreated by Rs 135 to Rs 10,025 per quintal in futures trading today after participants booked profits at higher levels, triggered by a weak sentiment at the physical market due to falling export demand.

At the National Commodity and Derivative Exchange, gum to be delivered in March was trading sharply lower by Rs 135 or 1.33 per cent to Rs 10,025 per quintal, with an open interest of 39,105 lots.

The most-traded delivery in February also weakened by Rs 127 or 1.27 per cent to Rs 9,894 per quintal, having an open interest of 40,460 lots.

Marketmen said emergence of profit-booking by speculators at prevailing higher levels amid a subdued trend at the physical markets owing to fall in export demand, led to fall in gum prices at futures trade here.

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

First Published: Tue, January 30 2018. 12:30 IST