Guarseed prices rebounded by Rs 67 to Rs 4,671 per quintal in futures trade today after traders enlarged positions, powered by a firming trend at the spot markets on rising demand.
At the National Commodity and Derivative exchange, guarseed for November month delivery contracts jumped Rs 67, or 1.46 per cent to Rs 4,671 per quintal, with an open interest of 2,900 lots.
Also, delivery in July contract was trading higher by Rs 53, or 1.20 per cent to Rs 4,456 per quintal, in an open interest of 28,810 lots.
Marketmen said the recovery in guarseed prices at futures trade was mostly due to positions built up by speculators, driven by rising demand at the spot markets.
