Guar gum futures recover on short-covering

NEW DELHI, Oct 4:  Guar gum prices bounced back by Rs 76 to Rs 8,031 per quintal in futures trade today largely backed up by covering-up of short positions at current levels amid a firm trends at the spot markets.
At the National Commodity and Derivative Exchange counter, guar gum for the most-active delivery in November gained Rs 76 or 0.96 per cent to Rs 8,031 per quintal, with an open interest of 42,570 lots.
Likewise, the delivery for the immediate contract October advanced by Rs 70 or 0.90 per cent to Rs 7,890 per quintal, revealing an open interest of 9,965 lots.
Market players apart from covering-up of short positions by participants a firm trend at the physical markets on pick up in demand amid pause in supplies of guar seed, mainly led to retrieve in guar gum futures prices. (PTI)