Guar seed futures rise on fresh bets

New Delhi: Guar seed prices on Thursday rose by Rs 104 to Rs 4,071 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market.On the National Commodity and Derivatives Exchange, guar seed for October contracts increased by Rs 104, or 2.62 per cent, to Rs 4,071 per 10 quintal with an open interest of 5,660 lots.

Similarly, guar seed for November delivery traded higher by Rs 79, or 1.97 per cent, to Rs 4,080 per 10 quintal with an open interest of 47,880 lots.

According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to the rise in guar seed prices here.