Continuing its upward trend, guargum prices rose by Rs 100 to Rs 5,570 per quintal in futures trading today following widening of positions by speculators and a firm trend at the domestic spot markets. Besides, positive overseas cues supported the uptick.
At the National Commodity and Derivatives Exchange, guargum for delivery in the current month was trading higher by Rs 100, or 1.83 per cent, to Rs 5,570 per quintal, with an open interest of 7,180 lots.
Also, the commodity for delivery in busy July was up by Rs 100, or 1.79 per cent, at Rs 5,680 per quintal, having an open interest of 36,116 lots.
Marketmen said expanding of positions by speculators on firm domestic and global cues mainly influenced guargum prices in the futures trade.
