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12-Sep2013

Guar seed futures extend gain on improved demand

Guar seed futures were trading higher for the second consecutive day due to improved demand in the spot market from stockists and millers, and a supply squeeze in the local markets. Farmers have held up supplies on hopes of a further rise in prices as the new harvest would take around 20 days to come into the market.

The contract for October delivery was trading at Rs 7881.00/100 KG, up by 4.00% or Rs 303.00 from its previous closing of Rs 7578.00/100 KG. The open interest of the contract stood at 386.00 lots.

The contract for November delivery was trading at Rs 7787.00/100 KG, up by 3.99% or Rs 299.00 from its previous closing of Rs 7488.00/100 KG. The open interest of the contract stood at 449.00 lots on MCX


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