Guar seed futures up on spot cues

NEW DELHI, Aug 14: Guar seed prices bounced back by Rs 50 to Rs 4,440 per quintal in futures trade today following buy-back of the positions at existing levels, tracking robust spot market sentiment.
Marketmen said traders were building up their holdings at lower levels in tandem with acceleration in the demand for guar gum makers amid halt in supplies in the spot markets, which described the upsurge in guar seed futures prices.
At the National Commodity and Derivatives Exchange, guar seed for October spurted by Rs 50, or 1.14 per cent, to Rs 4,440 per quintal, with an open interest of 1,18,740 lots.
In a similar way, delivery for November edged up by Rs 26.50, or 0.60 per cent, to Rs 4,463.50 per quintal, clocking an open interest of 7,810 lots. (PTI)