Guargum futures extend weakness on overseas cues

Guargum fell by Rs 130 to Rs 8,300 per quintal in futures trading today after participants trimmed positions, triggered by subdued trend in overseas market.
Furthermore, a weak trend at the physical markets induced sentiments.
At the National Commodity and Derivatives Exchange, guargum prices for delivery in November contract fell further by Rs 130, or 1.54 per cent to Rs 8,300 per quintal, having an open interest of 2,959 lots.
On similar lines, the most-active delivery in October contract also drifted by Rs 120, or 1.44 per cent to Rs 8,190 per quintal and open interest stood of 19,018 lots.

Marketmen attributed fall in guargum prices in futures trade to a weak trend at the domestic spot market and weak global cues.