Guargum futures fall on profit taking amid subdued trend at spot market

NEW DELHI: Guargum prices drifted by Rs 130 to Rs 7,750 per quintal in futures trading after speculators locked-in gains at higher levels amid subdued trend at the spot markets on subdued demand.

Marketmen attributed fall in guargum prices to profit-booking by speculators at existing levels.

Furthermore, increased arrivals and slackness in demand in physical markets too weighed on guargum futures, they said.

At the National Commodity and Derivative Exchange, guargum for delivery in October month was trading Rs 130, or 1.65 per cent, down at Rs 7,750 per quintal, in an open interest of 16,647 lots.