Guar gum futures recover on short covering

NEW DELHI, Aug 9: Guar gum prices bounced back by  Rs 105 to Rs 9,535 per quintal in futures trade today as investors made purchases at lower levels, induced by emerging physical markets amid rising export demand.
Marketmen said besides short covering by rising prices in the spot markets buoyed up a boost in export demand for oil drilling industries, led an upmove in guar gum futures prices.
At the National Commodity and Derivatives Exchange  platform, guar gum delivery for October recouped by Rs 105 or 1.11 per cent to Rs 9,535 per quintal, with an  open interest of 64,445 lots.
The delivery for November also improved by Rs 53 or 0.56 per cent to Rs 9,601 per quintal, with an open interest of 2,805 lots. (PTI)