Guar seed futures rise on fresh bets

Guar seed prices on Friday rose by Rs 5 to Rs 3,921 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market. According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to rise in guar seed prices here.PTI SRS SHW SHW

Guar seed prices on Friday rose by Rs 5 to Rs 3,921 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market. On the National Commodity and Derivatives Exchange, guar seed for December contracts increased by Rs 5, or 0.13 per cent, to Rs 3,921 per 10 quintal with an open interest of 18,285 lots.

Similarly, Guar seed for January delivery traded higher by Rs 5, or 0.13 per cent, to Rs 3,976 per 10 quintal with an open interest of 53,440 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 rise in guar seed prices here.