Guar gum futures gain on spot demand

NEW DELHI: Guar gum prices on Wednesday gained Rs 244 to Rs 7,440 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 August delivery traded higher 3.25 per cent, or Rs 244, to Rs 7,440 per five quintal with an open interest of 18,830 lots.

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