Guar gum futures gain on spot demand

NEW DELHI: Guar gum prices on Friday gained Rs 12 to Rs 6,224 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 0.18 per cent, or Rs 12, to Rs 6,224 per five quintal with an open interest of 4,555 lots.

The contracts for delivery in March traded higher by Rs 11, or 0.17 per cent, at Rs 6,310 per five quintal as open interest stood at 53,595 lots.

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