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20-Aug2013

Guar Seed futures trade higher on short covering

Guar Seed futures were trading higher supported by short covering at the lower levels along with improved demand in the mandis. Apart from lower levels buying, weak supplies and strong export demand into the spot markets also pushed up guar seed futures prices. However, hopes of bumper production because of an expanded area under cultivation and conducive weather limited the upside.

The contract for October delivery was trading at Rs 4410.00/100 KG, up by 0.82% or Rs 36.00 from its previous closing of Rs 4374.00/100 KG. The open interest of the contract stood at 1927.00 lots.

The contract for November delivery was trading at Rs 4229.00/100 KG, up by 1.44% or Rs 60.00 from its previous closing of Rs 4169.00/100 KG. The open interest of the contract stood at 1281.00 lots on MCX


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