Guar gum futures gain on spot demand

Guar gum prices on Thursday gained Rs 55 to Rs 12,377 per five quintals 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 by Rs 55 or 0.44 percent at Rs 12,377 per five quintals with an open interest of 47,605 lots.

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