Guar seed futures traded lower on MCX due to higher stocks position followed by sluggish demand in the spot market. Besides, hopes of higher output than last year due to an expanded area under cultivation in the leading growing belts too influenced Guar seed prices.
The contract for October delivery was trading at Rs 5,569.00/100 KG, down by 1.71% or Rs 97.00 from its previous closing of Rs 5,666.00/100 KG. The open interest of the contract stood at 86 lots.
The contract for November delivery was trading at Rs 5,320.00/100 KG, down by 2.28% or Rs 124.00 from its previous closing of Rs 5,444.00/100 KG. The open interest of the contract stood at 104 lots on MCX.