Guarseed futures weaken on profit taking

Guarseed futures prices softened by Rs 33 to Rs 2,157 per quintal today on profit booking at higher levels.

Marketmen said traders preferred to offload their holdings at higher levels amid falling demand in spot markets.

Higher supply and reduced offtake in physical markets also influenced the trading sentiments in future trading, they added.

At the National Commodity and Derivatives Exchange counter, guarseed price for December contract slipped by Rs.33, or 1.51 per cent, to Rs. 2,157 per quintal, showing an open interest of 1,52,030 lots.

November-month contract, too, declined by Rs.32, or 1.48 per cent to Rs 2,128 per quintal, with an open interest of 1,38,320 lots.