NEW DELHI, May 23: Guar gum prices met with resistance, lost Rs 47 to Rs 8,199 per quintal in futures trade today after the profit-booking by speculators, tracking falling demand overseas.
Market players said, besides, profit taking by traders, slackness in export demand for oil drilling industries overseas mainly put pressure on guar gum futures prices.
At the National Commodity and Derivatives Exchange counter, guar gum delivery for June weakened by Rs 47 or 0.57 per cent to Rs 8,199 per quintal, with an open interest of 48,155 lots.
Similarly, the delivery for July slackened by Rs 38 or 0.46 per cent to Rs 8,301 per quintal, clocking an open interest of 13,900 lots. (PTI)
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