Guar seed futures gain on spot demand

Guar seed prices rose by Rs 2 to Rs 3,951 per 10 quintal in futures trade on Tuesday after participants widened their holdings, driven by a firm trend at the spot market. On the National Commodity and Derivatives Exchange, guar seed contracts for November delivery spurted by Rs 2, or 0.06 per cent, to Rs 3,951 per 10 quintal with an open interest of 71,960 lots.

Similarly, guar seed for December delivery gained Rs 2, or 0.05 per cent, to Rs 4,002.5 per 10 quintal with an open interest of 14,790 lots. According to marketmen, raising of bets by speculators, tracking a firm trend in spot market on thin supplies from growing belts, mainly led to the rise in prices here.