Guarseed futures plunge on rising stocks

Bs_logoImage
Press Trust of India New Delhi
Last Updated : Aug 25 2014 | 2:35 PM IST
Guarseed prices plummeted by Rs 230 to Rs 6,158 per quintal in futures trading today as participants offloaded positions amidst mounting of stocks in the spot markets against weak overseas demand.
At the National Commodity and Derivatives Exchange, December contracts tumbled by Rs 230, or 3.60 per cent, to Rs 6,158 per quintal, clocking an open interest of 230 lots.
Similarly, November contracts lost Rs 169, or 2.69 per cent, at Rs 6,107 with an open interest of 2,850 lots.
Marketmen said fall in guarseed prices was mostly due to offloading of positions by speculators against weak demand from guargum makers.
Besides, lower export demand weighed on prices, they added.

You’ve hit your limit of 5 free articles this month.
Subscribe now for unlimited access.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 25 2014 | 2:35 PM IST

3 out of 5 articles left

Subscribe to read without limits
Subscribe Now