Guar gum futures gain on spot cues

Guar gum prices went up Rs 49 to Rs 6,980 per quintal in futures trade today as participants covered up short positions at prevailing levels amid a firm trend at the spot market.
Marketmen also attributed the rise to a firm trend at the spot market because of tight supplies against rising demand.
Besides, pick-up in export demand influenced guar gum prices, they added.
In futures trading at the National Commodity and Derivative Exchange, guar gum to be delivered in July contract advanced by Rs 49, or 0.71 per cent, to Rs 6,980 per quintal, having an open interest of 40,775 lots.

Guar gum for delivery in far-month October also gained Rs 38, or 0.52 per cent, to Rs 7,375 per quintal, clocking an open interest of 10,055 lots.