Guar gum futures gain on spot demand

Guar gum prices on Friday gained Rs 14 to Rs 6,480 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 May delivery traded higher 0.22 per cent, or Rs 14, to Rs 6,480 per five quintal with an open interest of 2,245 lots.

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

The contracts for delivery in June traded lower by Rs 20, or 0.3 per cent, at Rs 6,545 per five quintal as open interest stood at 54,505 lots.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)