Guargum futures plunge Rs 111 per quintal on profit-booking

Guargum prices slumped Rs 111 to Rs 8,350 per quintal in futures trading today following profit-booking by participants at existing higher levels amid a weak trend at the domestic physical markets.
Furthermore, a weak trend in global markets too weighed on guargum prices.
Market analysts said, the fall in guargum prices was mostly due to profit-booking at higher levels amid a weak trend at the domestic spot markets on sluggish demand.
Besides, weak overseas cues and subdued export demand, too put pressure on guargum prices.
At the National Commodity and Derivatives Exchange, guargum for delivery in May dipped by Rs 111, or 1.31 per cent, to Rs 8,350 per quintal, having an open interest of 15,490 lots.

On similar lines, the most-active delivery in April slipped by Rs 91, or 1.09 per cent, to Rs 8,235 per quintal, with the business turnover of 50,195 open lots.