Guar gum futures down on profit booking

Guar gum prices drifted lower by Rs 83 to Rs 7,000 per quintal in futures trading today due to offloading of positions by speculators to book profits amid a weak trend at the physical market.
Marketmebn said fall in guar gum prices in futures trading was attributed to profit-booking by participants at current levels and a weak trend at the spot markets on muted export demand.
Moreover, higher supplies too dampened sentiments, they said.
At the National Commodity and Derivative Exchange, guar gum to be delivered in far-month October contract declined by Rs 83 or 1.17 per cent to Rs 7,000 per quintal, having an open interest of 36,790 lots.

Likewise, the delivery in July contracts fell by Rs 64 or 0.95 per cent to Rs 6,646 per quintal, with an open interest of 13,490 lots.