Guargum weakens in futures trade on profit-booking

Guargum futures today traded lower by Rs 90 at Rs 11,410 per quintal, largely due to profit-booking by speculators at prevailing higher levels.

Moreover, weak global cues led to the fall in guargum prices at futures trade.

At the National Commodity and Derivatives Exchange, guargum for delivery in July month contracts was trading down by Rs 90, or 0.78 per cent to Rs 11,410 per quintal, with an open interest of 14,754 lots.

Also, delivery in current month (June) contracts fell by Rs 40, or 0.35 per cent to Rs 11,250 per quintal, in an open interest of 382 lots.