NEW DELHI, May 8: Guargum prices spurted by Rs 82 to Rs 7,907 per quintal in futures trade as participants created fresh positions, taking positive cues from the spot markets.
Marketmen said the rise in guargum prices at futures trade was mostly attributed to building up of fresh positions, driven by a firm trend at the spot markets and pick up in demand amid fall in arrivals from growing belts.
At the National Commodity and Derivatives Exchange, guargum for delivery this month was trading higher by Rs 82, or 1.05 per cent, to Rs 7,905 per quintal, having an open interest of 11,950 lots.
Guargum for delivery in June was up by Rs 65, or 0.82 per cent, to Rs 8,030 per quintal, in an open interest of 44,830 lots. (PTI)
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