Guargum futures down Rs 110 on profit-booking

Guargum futures traded lower by Rs 110 to Rs 5,690 per quintal today as participants indulged in reducing their positions at prevailing higher levels to book profits.
Besides, increased arrivals of guarseed from growing regions in physical markets also weighed on sentiment.
Marketmen attributed fall in guargum prices to emergence of profit-booking by speculators at current levels and slackness in export demand at the domestic spot markets.
At the National Commodity and Derivatives Exchange, guargum for delivery in July contracts declined by Rs 110 or 1.90 per cent to Rs 5,690 per quintal, with an open interest of 40,722 lots.

Similarly, guargum for delivery this month was down by Rs 100 or 1.75 per cent to Rs 5,610 per quintal, in an open interest of 1,268 lots.