Tuesday, 30 July 2013

Guargum futures gain on low-level buying

After a long spell of bearish trend, guargum found fresh buying support and rose by Rs 310 to Rs 12,690 per quintal in future trading today.  Marketmen said pick up in demand at prevailing lower levels against restricted supply mainly led the rise in guargum prices here in future markets. Fresh commitments at existing lower levels by traders, tracking firm overseas markets too helped to kept prices under green zone, they said. At the National Commodity and Derivatives Exchange, guargum for December contract rose by Rs 310, or 2.50 per cent to Rs 12,690 per quintal, with an open interest of 38 lots. Most active October month hardened by Rs.190, or 1.54 per cent to Rs 12,560 per quintal, having an open interest of 2,623 lots.

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