Guar gum futures gain on spot demand

Guar gum costs on Wednesday gained Rs 102 to Rs 6,090 per 5 quintal in futures commerce as speculators elevated their holdings on spot demand.

On the Nationwide Commodity and Derivatives Alternate, guar gum contracts for January supply traded greater 1.70 per cent, or Rs 102, to Rs 6,090 per 5 quintal with an open curiosity of two,240 heaps.

The contracts for supply in February rose by Rs 101, or 1.67 per cent, to Rs 6,160 per 5 quintal as open curiosity stood at 52,525 heaps.

Analysts stated after monitoring agency bodily market development merchants raised their bets which led to the rise in guar gum costs.

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