Guar gum futures turn weak on profit booking

Guar gum prices were lower by Rs 139 to Rs 8,350 per quintal in futures trading today after profit selling by traders in the wake of downbeat trends at the physical markets.

At the National Commodity and Derivative Exchange, guar gum for delivery in December plunged by Rs 139 or 1.64 per cent to Rs 8,350 per quintal, with an open interest of 380 lots.

Also, the most-traded January also declined by Rs 69 or 0.81 per cent to Rs 8,427 per quintal, having an open interest of 70,705 lots.

Marketmen said profit-booking by speculators after yesterday's rise and a weak trend at tracking weak trends at the spot markets, mainly pulled down guar gum prices in futures trade here.