Gur futures up on short covering

Gur prices strengthened by Rs 8.50 to Rs 1,056 per 40 kg in futures trading today on increased buying by traders at prevailing lower levels, driven by limited supply in spot markets. 

Marketmen said tight stocks in the markets following a decline in arrivals due to adverse weather conditions and rise in demand, supported the upside in gur futures prices here.

At the National Commodity and Derivatives Exchange counter, gur prices for the delivery in March contract hardened by Rs 8.50 or 0.81 per cent to Rs 1,056 per 40 kg, with an open interest of 12,670 lots. 

Similarly, gur for delivery in January-month contract went up by Rs 6.50 or 0.67 per cent to Rs 981.50 per 40 kg, with an open interest of 12,280 lots, while December-month contract moved up by Rs 3 or 0.33 per cent to Rs 907 per 40 kg, with an open interest of 3,430 lots.