Guar gum futures gain on spot demand

Guar gum prices on Wednesday gained Rs 32 to Rs 6,208 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 February delivery traded higher 0.52 per cent, or Rs 32, to Rs 6,208 per five quintal with an open interest of 22,135 lots.

The contracts for delivery in March traded higher by Rs 29, or 0.46 per cent, at Rs 6,279 per five quintal as open interest stood at 34,305 lots.

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