Guargum down by Rs 46 at futures trade

Guargum prices drifted lower by Rs 46 to Rs 6,330 per quintal in futures trading today as participants liquidated holdings in line with weak spot as well as overseas markets sentiment.
Marketmen said subdued demand along with persistent arrivals in physical markets mainly led to fall in guargum prices at futures trade.
Besides, shrinking demand from oil drilling industries in overseas markets too weighed on the sentiment, they added.
At the National Commodity and Derivatives Exchange, guargum for delivery in December fell by Rs 46, or 0.72 per cent, to Rs 6,330 per quintal, with an open interest of 24,510 lots.

Also, delivery in far-month January dropped by Rs 45, or 0.70 per cent, to Rs 6,406 per quintal, having an open interest of 23,270 lots.