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31-Jul2013

Guar seed futures bounce back on pickup in demand

Guar seed futures have bounced back and were trading with good gains, as traders increased their positions tracking a pick up in the demand for the commodity in spot market. Apart from lower levels buying, weak supplies and strong export demand into the spot markets also pushed up guar seed futures prices. However, the prices could fall again due to good progress of sowing and expectations of a rise in the seeded area.

The contract for October delivery was trading at Rs 4184.00/100 KG, up by 1.73% or Rs 71.00 from its previous closing of Rs 4113.00/100 KG. The open interest of the contract stood at 3281.00 lots.

The contract for November delivery was trading at Rs 4145.00/100 KG, up by 1.37% or Rs 56.00 from its previous closing of Rs 4089.00/100 KG. The open interest of the contract stood at 2323.00 lots on MCX.


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