Guar seed futures prices rose on Friday, driven by strong spot market demand and tight supplies. Speculators increased their positions, leading to a 3.70% gain.
New Delhi, May 17 (PTI) Guar seed prices on Friday rose Rs 202 to Rs 5,455 per 10 quintals 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 May delivery rose Rs 202 or 3.70 per cent to Rs 5,455 per 10 quintals with an open interest of 155 lots.
According to marketmen, speculators raised bets, tracking a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices.
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