Guarseed futures up on short-covering

Fri, Nov 6 12:50 PM

Guarseed futures prices on Friday recovered marginally by 0.24 per cent, after yesterday's losses, in futures trading largely on the back of short covering by traders.

At the NCDEX platform, guarseed November contract delivery traded 0.24 per cent higher at Rs 2,552 per quintal with an open interest in 57,220 lots.

Guarseed for delivery in December contract also went up by 0.15 per cent at Rs 2,598 per quintal having an open interest in 2,23,660 lots.

Marketmen said covering-up of pending short positions by speculators at lower levels mainly attributed to the recovery in guarseed prices in futures trading.

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