Guar Seed Futures Surge on Spot Demand
Guar seed futures prices rose on Friday due to increased speculation and strong demand in the spot market. Speculators raised bets, leading to a 2.40% increase in prices.
New Delhi, Sep 20 (PTI) Guar seed prices on Friday rose Rs 130 to Rs 5,433 per quintal in futures trade after speculators widened their positions amid a firm trend in the spot market.
On the National Commodity and Derivatives Exchange, guar seed contracts for October delivery grew Rs 130 or 2.40 per cent to Rs 5,433 per quintal with an open interest of 50,400 lots.
According to marketmen, speculators raised bets, a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices.
On the National Commodity and Derivatives Exchange, guar seed contracts for October delivery grew Rs 130 or 2.40 per cent to Rs 5,433 per quintal with an open interest of 50,400 lots.
According to marketmen, speculators raised bets, 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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