Guar gum futures gain on spot demand

Guar gum prices on Friday gained Rs 48 to Rs 6,066 per five quintal in futures trade as speculators increased their holdings on spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for December delivery traded higher 0.62 per cent, or Rs 48, to Rs 6,066 per five quintal with an open interest of 5,500 lots.

The contracts for delivery in January traded higher by Rs 40, or 0.66 per cent, at Rs 6,132 per five quintal as open interest stood at 49,240 lots.

Analysts said after tracking firm physical market trend, traders raised their bets which led to rise in guar gum prices.