Guargum futures slip 3.66% on profit-booking

Guargum prices slumped by 3.66 per cent to Rs 9,870 per quintal in futures trade today after participants locked in gains at prevailing higher levels amid weak trend in physical and overseas markets.
At the National Commodity and Derivatives Exchange, guargum for delivery in November contracts dropped Rs 370, or 3.66 per cent, to Rs 9,870 per quintal, clocking an open interest of 12,465 lots.
October contracts also fell sharply by Rs 330, or 3.27 per cent to Rs 9,760 per quintal, in an open interest of 17,512 lots.
Marketmen said apart from profit-booking by participants, a weak trend in domestic spot and overseas markets kept pressure on guargum prices.

Besides, rise in supplies amid withdrawal of support at higher levels in spot markets, dampened sentiments.