Guargum futures gain Rs 29 per quintal

Guargum prices rose higher by Rs 29 to Rs 6,220 per quintal in futures trading today following increased buying by operators in line with emerging physical as well as overseas markets.
Marketmen said, thin arrivals and growing demand in spot markets, mainly led to rise in guargum prices here in futures trading.
Apart from this, a spurt in overseas demand for oil drilling industries too helped to boost trading sentiments, they quoted.
At the National Commodity and Derivatives Exchange counter, guargum delivery for February hardened by Rs 29, or 0.47 per cent, to Rs 6,220 per quintal, with an open interest of 7,800 lots.

Most active January delivery was also enquired higher by Rs 27, or 0.44 per cent, to Rs 6,155 per quintal, with a business turnover of 39,170 open lots.