Guarseed futures prices surged Rs 56 to Rs 2,789 per quintal today, largely driven by short covering, firm domestic sentiments.
Market analysts said buying activity at lower levels, along with short supplies, mainly influenced trading sentiments.
Besides, strong demand from guar gum making industries, too, influenced the trading sentiments, they said.
At the National Commodity and Derivatives Exchange, guarseed prices for March delivery at Jodhpur, Rajasthan rose by Rs 56, or 2.05%, to Rs 2,789 per quintal, witnessing an open interest of 13,020 lots.
Prices for May contract shot up by Rs 57, or 2.02%, to Rs 2,880 per quintal, with an open interest of 24,540 lots, while the most-active April contract rose by Rs 55, or 1.98%, to Rs 2,833 per quintal, with an open interest of 1,82,560 lots.
