Guar Seed Futures Rise on Spot Demand
Guar seed futures prices gained on the National Commodity and Derivatives Exchange (NCDEX) due to strong spot market demand and lower supplies. Speculators increased their positions, driving prices up.
New Delhi, Aug 19 (PTI) Guar seed prices on Monday increased Rs 20 to Rs 5,294 per quintal in futures trade after speculators widened their positions following a firm trend in the spot market.
On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery rose Rs 20 or 0.38 per cent to Rs 5,294 per quintal with an open interest of 54,995 lots.
According to marketmen, speculators raised bets in futures trade, tracking a firm trend in the spot market and lower supplies from growing belts.
On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery rose Rs 20 or 0.38 per cent to Rs 5,294 per quintal with an open interest of 54,995 lots.
According to marketmen, speculators raised bets in futures trade, tracking a firm trend in the spot market and lower supplies from growing belts.
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