Guar gum prices soared by Rs 228 to Rs 7,865 per quintal in futures trade today following expansion of bets by speculators, driven by positive domestic as well as global cues.
Market players said widening of positions by participants on the back of a firm trend at the domestic spot marketers amid positive global cues, led to a significant rise in guar gum prices in future trading.
At the National Commodity and Derivative Exchange, guar gum for delivery in May month contracts shot up by Rs 228 or 2.99 per cent to Rs 7,865 per quintal, with an open interest of 195 lots.
Guar gum for most-traded delivery in June contracts also surged by Rs 203 or 2.62 per cent to Rs 7,955 per quintal, in an open interest of 47,130 lots.
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