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Guar gum futures up on firm spot cues

Press Trust of India  |  New Delhi 

gum prices remained in demand for the second straight day, rising Rs 40 to Rs 9,204 per quintal in futures trading today, as participants hiked exposure amid strong spot market sentiments.

Marketmen said operators increased their holdings on back of robust demand in physical market, which took the uptrend in prices to the second consecutive day today.

Thin supplies from growing areas amid the strong export demand from drilling industries in spot market kept traders positive, they added.

At the National Commodity and Derivative Exchange, gum delivery for February contract rose Rs 40, or 0.44 per cent, to Rs 9,204 per quintal with an open interest of 21,270 lots.

Similarly, the delivery for January contract moved up by Rs 33, or 0.36 per cent, to Rs 9,085 per quintal with an open interest of 57,320 lots.

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

First Published: Wed, December 27 2017. 13:05 IST