Guar seed futures drop on downbeat physical cues

NEW DELHI, May 4: Guar seed prices rolled down by Rs 63.50 to Rs 3,708.50 per quintal in futures trade today on trimming of exposures in line with weak physical markets.
Market players said pick-up in supplies from growing belts, along with muted demand from guar gum makers at the spot markets mainly disheartened traders, which disclosed the downfall in guar seed futures prices.
At the National Commodity and Derivatives Exchange  counter, guar seed delivery for May plunged by Rs 63.50 or 1.68 per cent to Rs 3,708.50 per quintal, clocking an open interest of 75,960 lots.
In a similar fashion, the delivery of the second contract June dropped by Rs 55 or 1.44 per cent to Rs 3,771 per quintal with an open interest of 69,120 lots. (PTI)