Guargum futures add gain on brisk demand

Guargum prices extended gains by Rs 80 to Rs 7,140 per quintal in futures trading today as traders were enlarging holdings in line with strong physical and overseas markets sentiment.
Marketmen said apart from brisk demand, reduced arrivals from growing regions in spot markets mainly pushed up the trading sentiments in future markets.
In addition, acceleration in export demand for oil drilling industries at existing levels also buoyed uptrend in future prices, they added.
At the National Commodity and Derivative Exchange counter, guargum delivery for immediate contract June hardened further by Rs 80 or 1.13 per cent to Rs 7,140 per quintal, depicting an open interest of 3,705 lots.

Most active second contract July delivery also shot up further by Rs 52 or 0.72 per cent to Rs 7,277 per quintal, in an open interest of 46,860 lots.