Guarseed prices decline on profit booking

Guarseed prices met with resistance at higher levels and were down by Rs 34 to Rs 3,664 per quintal in the futures trading today.

Marketmen said profit selling by speculators at existing levels, mainly led to the fall in guarseed prices at futures trade here.

Furthermore, sluggish demand at the physical markets too weighed on prices, they added.

At the National Commodity and Derivative Exchange, guarseed for delivery in November fell by Rs 34 or 0.92 per cent at Rs 3,664 per quintal, while open interest revealed of 27,280 lots.

In a similar fashion, the most-active delivery in October also declined by Rs 32 or 0.87 per cent to Rs 3,646 per quintal, in an open interest of 74,480 lots.