Guarseed prices spurted by Rs 36, or 1.56 pc, to Rs 2,340 per quintal in futures trade today following heavy buying by traders in tandem with firm spot market sentiment.
At the National Commodity and Derivatives Exchange counter, guarseed prices for December month contract shot up by Rs 36, or 1.56 per cent, to Rs 2,340 per quintal, with an open interest of 2,040 lots.
August month delivery advanced by Rs 23, or 1.02 per cent to Rs 2,273 per quintal, having an open interest of 1,18,080 lots, while most active September month delivery for guarseed traded higher by Rs 21, or 0.93 per cent, to Rs 2,290 per quintal, showing an open interest of 1,26,280 lots.
Marketmen said brisk buying by stockist and gum making industries couped with restricted supply in physical markets, invited traders to raise their holdings.