NEW DELHI, Apr 24: Guar gum prices recovered by Rs 21 to Rs 9,228 per quintal in futures trade today after investors created fresh positions at existing levels thanks to emerging physical market sentiment.
Market players attributed the rebound in the guar gum futures to short-covering by the traders tracking rising prices in spot markets supported by pick up in export demand for oil drilling industries.
In addition, depreciation of rupee against the dollar was another influencing factor behind price gain in guar gum futures, they quoted.
At the National Commodity and Derivatives Exchange platform, guar gum for June contracts rose by Rs 21, or 0.13 per cent, to Rs 9,228 per quintal with an open interest of 11,530 lots.
Meanwhile, the delivery of May contracts increased by Rs 19, or 0.21 per cent, to Rs 9,121 per quintal, clocking an open interest of 53,510 lots. (PTI)
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