Guargum prices zoomed by four per cent to hit upper limit at Rs 8,330 per quintal in futures trade today as speculators enlarged positions amid a firming trend at domestic spot markets.
Strong export demand influenced guargum prices as well.
Marketmen said speculative positions built up by traders, driven by strong domestic as well as export demand, helped guargum hit upper circuit by surging 4 per cent.
At the National Commodity and Derivatives Exchange, guargum delivery November contracts spurted Rs 320, or 4 per cent, to hit upper limit at Rs 8,330 per quintal, with an open interest of 13,155 lots.
Also, delivery in October shot up by Rs 310, or 3.92 per cent, to Rs 8,220 per quintal, having an open interest of 18,299 lots.
