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18-Jan2014

Guar seed futures trade down on hopes of higher output

Guar seed futures traded down on MCX as higher output expectations from the major producing belts due to expanded area under cultivation and on good rains. Further, large stocks position in the physical market too influenced the commodity. Profit booking by traders and speculators further led to the decline in the prices of the commodity.

The contract for January delivery was trading at Rs 4,950.00/100 kg, down by 2.19% or Rs 111.00 from its previous closing of Rs 5,061.00/100 kg. The open interest of the contract stood at 2 lots. 

The contract for February delivery was trading flat at its previous closing of Rs 5,175/100 kg. The open interest of the contract stood at 1 lot on MCX.


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