Guar Seed futures were trading lower on MCX due to higher area under cultivation in the top producing Rajasthan state, favorable weather and on higher carry-forward stocks. Further, the prices also declined on increased selling by speculators driven by a weak trend in physical marketers on sluggish demand.
The contract for October delivery was trading at Rs 4920.00 /100 KG, down by 0.51% or Rs 25.00 from its previous closing of Rs 4945.00 /100 KG. The open interest of the contract stood at 3195.00 lots.
The contract for November delivery was trading at Rs 4880.00 /100 KG, down by 0.67% or Rs 33.00 from its previous closing of Rs 4913.00 /100 KG. The open interest of the contract stood at 1609.00 lots on MCX.