Guargum extend gains in futures trade

Continuing its upward trend, guargum prices were higher by another Rs 70 to Rs 6,082 per quintal in futures trade today as participants indulged in widening their positions amid strong spot demand.
At the National Commodity and Derivative Exchange, guargum for delivery this month moved up further by Rs 70 or 1.16 per cent to Rs 6,082 per quintal, with an open interest of 1,385 lots.
The most-active delivery in December month contracts too gained Rs 49 or 0.81 per cent to Rs 6,095 per quintal, in an open interest of 36,860 lots.
Marketmen said expanding of positions by participants tracking a firm trend at the physical markets on strong demand amid tight stocks, led to the rise in guargum prices at futures trade.