Guar seed futures rise on fresh bets

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New Delhi, Jan 1 (PTI) Guar seed prices on Friday rose by Rs 58 to Rs 3,966 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 January contracts increased by Rs 58, or 1.48 per cent, to Rs 3,966 per 10 quintal with an open interest of 42,565 lots.

Similarly, Guar seed for February delivery traded higher by Rs 61, or 1.54 per cent, to Rs 4,012 per 10 quintal with an open interest of 21,175 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