Guargum futures turn weak on profit booking

NEW DELHI: Guargum prices fell Rs 140 per quintal in futures trading today after speculators locked-in gains at higher levels amid a weak trend at the physical markets.

Besides, weak global cues too weighed on guargum prices.

At the National Commodity and Derivatives Exchange, guargum for December contracts lost Rs 140, or 1.69 per cent to Rs 8,160 per quintal, clocking an open interest of 486 lots.

Also, the most-active delivery in October contracts was trading lower by Rs 90, or 1.12 per cent to Rs 7,960 per quintal, in an open interest of 16,572 lots.

Traders said profit-booking by participants after recent gains and a weak trend at domestic spot markets, mainly pulled down guargum prices.