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Guarseed futures down on selling pressure

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 9:33 PM IST

Guarseed prices dropped by Rs 74 to Rs 3,333 per quintal in futures trade today on heavy selling by traders against ample supply in physical markets.  

Market analysts said a weakening export demand of guar gum amid reports of rise in production, advised traders to off-load their positions.

At the National Commodity and Derivatives Exchange, guarseed prices for September declined by Rs 74, or 2.17% to Rs 3,333 per quintal, in an open interest of 480 lots.

Guarseed prices for June delivery slipped by Rs 62, or 1.89% to Rs 3,225 per quintal in 1,91,500 lots. Likewise, its prices for May delivery contract fell by Rs 37, or 1.15% to Rs 3,192 per quintal, with a business turnover of 9,730 lots.

 

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First Published: May 19 2011 | 2:18 PM IST

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