Guarseed futures prices surged Rs 49, or 2.30 per cent, to Rs 2,180 per quintal today on brisk buying by traders led by a firm spot market sentiment.
Marketmen said a firming trend in spot markets on restricted supply from growing regions, mainly led to a rise in guarseed futures prices.
Strong demand from cattle-feed and guargum making industries, also enthused the trading sentiment, they added.
At the National Commodity and Derivatives Exchange platform, guarseed futures prices for March contract shot up by Rs 49, or 2.30 per cent, to Rs 2,180 per quintal, with an open interest of 1,300 lots.
Current October-month contract gained by Rs 10, or 0.49 per cent, to Rs 2,062 per quintal, with an open interest of 42,840 lots.
The November contract delivery surged Rs 20, or 0.96 per cent, to Rs 2,095 per quintal, with a business turnover of 1,54,510 lots.
