Guarseed futures prices today hit the daily upper limit for second straight day by rising 4% to Rs 6,552 per quintal, on sustained buying by speculators on strong export demand amid low inventories.
Marketmen said despite imposing a special 10% margin, guarseed prices hit the upper circuit for the second day as speculators remained net buyers.
Strong export demand driven by weak rupee against dollar, the guarseed prices firmed up in deomestic as well as futures markets.
At the National Commodity and Derivatives Exchange, December guarseed surged to hit a daily upper limit of 4%, or Rs.252 at Rs 6,552 per quintal, with an open interest of 40,150 lots.
The January contract shot up by Rs 260, or 4%, to Rs 6,754 per quintal, with an open interest of 1,83,950 lots.
