Continuing its upward trend, guarseed futures traded higher by another Rs 53 to Rs 3,886 per quintal today as participants indulged in widening their bets, taking positive cue from firm spot markets.
Marketmen said the rise in guarseed prices at futures trade was mostly attributed to raising of positions by participants, driven by a firm trend at the physical market on strong demand form guargum makers.
At the National Commodity and Derivative Exchange, guarseed 10 mt delivery for delivery in far-month contracts December surged by Rs 53 or 1.38 per cent to Rs 3,886 per quintal, with an open interest of 3,410 lots.
In a similar fashion, the most-active delivery in October gathered another Rs 47 or 1.26 per cent to Rs 3,787 per quintal, in an open interest of 73,120 lots.
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