Prices of guargum rose by Rs 126 to Rs 6,327 per quintal on the first trading day of 2017 as speculators enlarged positions, driven by a firm trend at the spot markets amid positive global cues.
At the National Commodity and Derivative Exchange, guargum for delivery in January spurted by by Rs 126, or 2.03 per cent, to Rs 6,327 per quintal, with an open interest of 19,085 lots.
Gruargum for delivery in February month also spurted by Rs 126, or 2.01 per cent, to Rs 6,393 per quintal, in an open interest of 26,875 lots.
Marketmen said building up of positions by participants, triggered by a firm trend at the physical mrkets on strong demand and positive overseas cues, supported the upside in guargum prices at futures trade here.
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