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08-Nov2013

Guar seed futures trade down on higher supplies

Guar seed futures traded down on MCX on higher supplies from the new season harvest and weak export demand. Further, estimates of higher production from the major producing belts due to an expanded area under cultivation and good rains too influenced guar seed prices. Traders booking profits at elevated price levels too pressurised the prices to decline.

The contract for November delivery was trading at Rs 5,250.00/100 kg, down by 1.32% or Rs 70.00 from its previous closing of Rs 5,320.00/100 kg. The open interest of the contract stood at 24 lots. 

The contract for December delivery was trading at Rs 5,288.00/100kg, down by 0.02% or Rs 1.00 from its previous closing of Rs 5,289.00/100kg. The open interest of the contract stood at 7 lots on MCX.


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