Guarseed prices rallied by Rs 27 to Rs 3,437 per quintal in futures trading as participants indulged in expanding their exposure in tune with upbeat sentiment at spot market.
Marketmen said raising of bets by speculators in sync with the surging demand from guar gum makers amid tight arrivals of guar seed from growing regions at the spot market, mainly attributed uptick in guarseed future prices.
At the National Commodity and Derivative Exchange, guar seed for most-active delivery in far-month October looked up by Rs 27 or 0.79 per cent to Rs 3,437 per quintal, having an open interest of 68,860 lots.
Similarly, the delivery for November contract edged up by Rs 23 or 0.67 per cent to Rs 3,471 per quintal, revealing an open interest of 2,520 lots.
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