Guar seed futures rise on fresh bets

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New Delhi, Oct 27 (PTI) Guar seed prices on Tuesday rose by Rs 98 to Rs 4,375 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for November contracts increased by Rs 98, or 2.29 per cent, to Rs 4,375 per 10 quintal with an open interest of 42,935 lots.

Similarly, Guar seed for December delivery traded higher by Rs 104, or 2.41 per cent, to Rs 4,416 per 10 quintal with an open interest of 19,155 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 rise in guar seed prices here.PTI SRS SHW SHW