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Guargum futures resume higher on short covering

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Press Trust of India New Delhi
Last Updated : May 23 2017 | 12:22 PM IST
Guargum prices recovered by Rs 10 to Rs 7,985 per quintal in futures trading today after short covering made by operators in line with emerging physical markets.
Market players said traders were accumulating positions at existing levels, tracking firm sentiments from spot markets consequenced the uptick in prices in futures trading.
At the National Commodity and Derivatives Exchange, guargum for the second contract July gained by Rs 10, or 0.13 per cent, to Rs 7,985 per quintal, depicting an open interest of 10,815 lots.
The delivery for the most active first contract June also advanced by Rs 9, or 0.11 per cent, to Rs 7,840 per quintal, with an open interest at 445,005 lots.

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First Published: May 23 2017 | 12:22 PM IST

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