Guargum slips on profit booking, weak spot cues

Guargum prices turned down by Rs 94 to Rs 6,309 per quintal in futures trading today following profit selling by participants, driven by weak physical markets.
Marketmen said sprouting of selling at existing levels by operators to book profits mainly led the fall in prices.
Besides, weakness in spot markets due to constant supplies and slackness in demand at higher levels weighed on prices in futures trading, they quoted.
At the National Commodity and Derivatives Exchange, guargum delivery for January plunged by Rs 94, or 1.47 per cent, to Rs 6,309 per quintal, in an open interest of 15,490 lots.

The most active second contract for February dropped by Rs 87, or 1.34 per cent, to Rs 6,383 per quintal, with an open interest of 29,260 lots.