Guargum futures up as traders create position at low level

Guargum prices recovered by Rs 46 to Rs 5,986 per quintal in futures trading today as participants created fresh positions at prevailing levels amid a firm trend at the physical market amid positive global cues.
Marketmen said building up of fresh positions at prevailing lower levels by participants, supported the upside in guargum prices at futures trade here.
Besides, pick-up in export demand too influenced prices, they added.
At the National Commodity and Derivatives Exchange, guargum for delivery in January was higher by Rs 46, or 0.77 per cent, to Rs 5,986 per quintal, showing an open interest of 36,740 lots.

Also, guargum for delivery in far-month February was trading higher by Rs 32, or 0.53 per cent, to Rs 6,050 per quintal, with a business turnover of 11,690 open lots.