Guargum futures weak on profit-booking

Guargum prices fell Rs 370 to Rs 9,050 per quintal in futures trading today as speculators trimmed their positions to book profits at higher levels amid subdued spot demand.
Besides, weak trends in overseas market too weighed on guargum futures.
Marketmen said increased arrivals against subdued demand and profit-booking at prevailing levels, mainly attributed fall in guargum futures here.
Futhermore, fall in export demand had negatively impacted, they added.
At the National Commodity and Derivatives Exchange, guargum delivery for delivery in far-month January next year month dipped by Rs 370, or 3.93 per cent to Rs 9,050 per quintal, with an open interest just one lot.

Also, most-active delivery in October contracts slipped Rs 70, or 0.80 per cent to Rs 8,720 per quintal, having an open interest of 15,739 lots.