Guarseed futures gain on increased buying support

Guarseed futures prices improved by Rs 19 to Rs 2,587 per quintal on better buying support by traders to meet the rising demand in spot markets.

Market analysts said traders creating fresh positions on the back of firm spot markets sentiments mainly pushed up the prices.

At the National Commodity and Derivatives exchange counter, guarseed prices for delivery in February moved up by Rs 19, or 0.74 per cent, to Rs 2,587 per quintal, with an open interest of 1,93,350 lots.

Prices for delivery in current month January also went up by Rs 17, or 0.68 per cent, to Rs 2,529 per quintal, clocking an open interest of 34,170 lots.