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12-Nov2013

Guar seed futures decline on mounting stocks

Guar seed futures declined on MCX due to higher supplies in spot markets, mounting stocks and sluggish overseas demand. Supplies from the new harvest have started coming into local markets in small quantities and will increase in the coming weeks. Further, Guar seed production is expected to be higher due to an expansion in area under cultivation and good rains

The contract for November delivery was trading at Rs 5000.00, down by 1.36% or Rs 69.00 from its previous closing of Rs 5069.00. The open interest of the contract stood at 9.00 lots.

The contract for December delivery was trading at Rs 4930.00, down by 2.22% or Rs 112.00 from its previous closing of Rs 5042.00. The open interest of the contract stood at 9.00 lots on MCX.

 


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