Guar gum futures gain on spot demand

Guar gum prices on Wednesday gained Rs 2 to Rs 6,070 per five quintal in futures trade as speculators increased their holdings on spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for February delivery traded higher 0.03 per cent, or Rs 2, to Rs 6,070 per five quintal with an open interest of 50,455 lots.

The contracts for delivery in March traded higher by Rs 2, or 0.03 per cent, at Rs 6,140 per five quintal as open interest stood at 3,720 lots.

Analysts said after tracking firm physical market trend, traders raised their bets which led to rise in guar gum prices.

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