Guar seed futures rise on fresh bets

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New Delhi, Feb 2 (PTI) Guar seed prices on Tuesday rose by Rs 23 to Rs 3,901 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for February contracts increased by Rs 23, or 0.59 per cent, to Rs 3,901 per 10 quintal with an open interest of 38,850 lots.

Guar seed for March delivery traded higher by Rs 18, or 0.46 per cent, at Rs 3,943 per 10 quintal with an open interest of 21,370 lots.

According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to the rise in guar seed prices here. PTI SRS RUJ RUJ