Guargum futures up on revival of buying
Marketmen said traders preferred to increase their positions at existing lower levels in line with firming spot as well as export demands.
By PTI | Updated:
NEW DELHI: Guargum prices rose by Rs 220 to Rs 11,850 per quintal in the futuress trade today on the back of speculative buying by traders in tandem with firm physical and overseas markets cues.
Marketmen said traders preferred to increase their positions at existing lower levels in line with firming spot as well as export demands.
Hike in demand from petroleum drilling industries in international markets also boosted the trading sentiments, they said.
At the National Commodity and Derivatives Exchange, guargum for most active October month rose by Rs 220, or 1.89 per cent, to Rs 11,850 per quintal, clocking an open interest of 2,593 lots.
November contract improved by Rs 190, or 1.63 per cent, to Rs 11,850 per quintal, with an open interest of 839 lots.
Marketmen said traders preferred to increase their positions at existing lower levels in line with firming spot as well as export demands.
Hike in demand from petroleum drilling industries in international markets also boosted the trading sentiments, they said.
At the National Commodity and Derivatives Exchange, guargum for most active October month rose by Rs 220, or 1.89 per cent, to Rs 11,850 per quintal, clocking an open interest of 2,593 lots.
November contract improved by Rs 190, or 1.63 per cent, to Rs 11,850 per quintal, with an open interest of 839 lots.
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