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26-Jul2013

Guar Seed futures continue to lose ground on higher production estimates

Guar Seed futures is on a losing trajectory for fourth straight session on MCX on account of relentless selling by the traders in backdrop of higher production estimates. Further, as per some report India's output of guar will rise this year as farmers increase cultivation on expectations of a good monsoon. Meanwhile, higher carry-forward stocks and weak export demand continued to pressurize the prices.

The contract for October delivery was trading at Rs 4510.00 /100 KG, down by 3.41% or Rs 159.00 from its previous closing of Rs 4669.00 /100 KG. The open interest of the contract stood at 3602.00 lots.

The contract for November delivery was trading at Rs 4440.00 /100 KG, down by 3.79% or Rs 175.00 from its previous closing of Rs 4615.00 /100 KG. The open interest of the contract stood at 2336.00 lots on MCX.


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