Guarseed futures up on aggressive buying

Guarseed prices shot up by Rs 48 to Rs 2,630 per quintal in futures market today on heavy buying by speculators on firming spot market trend. 

A rise in demand among adhesive making industries amid restricted supply in physical markets mainly pushed up the prices in futures trade.

At the National Commodity and Derivatives Exchange counter, guarseed price for far March-month delivery at Jodhpur swifted by Rs 48 or 1.86 per cent to Rs 2,630 per quintal, with an open interest of 1,530 lots.

Current-month December contract gained by Rs 12 or 0.48 per cent to Rs 2,496 per quintal, with an open interest of 58,140 lots.  

Meanwhile, most-active January-month contract showed a rise of Rs 14 or 0.55 per cent at Rs 2,546 per quintal, with an open interest of 1,68,850 lots.