Guar gum futures surge on positive domestic, global cues

Guar gum registered a rise of Rs 72 in its prices to Rs 7,295 per quintal in futures trade today as speculators raised holdings, taking positive leads from domestic and global markets.
At the National Commodity and Derivatives Exchange, guar gum for delivery in October shot up by Rs 72, or 1 per cent, to Rs 7,295 per quintal, clocking an open interest of 43,385 lots.
Guar gum to be delivered in November also looked up by Rs 26, or 0.35 per cent, to Rs 7,400 per quintal, persisting an open interest of 75 lots.
Marketmen said widening of positions by participants, triggered by a firm trend at the domestic spot markets amid positive global cues, lifted guar gum prices in futures trade.