Guar seed futures gain on fresh bets

New Delhi, Jan 28 () Guar seed prices on Tuesday rose by Rs 16 to Rs 4,040 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for February contracts rose by Rs 16, or 0.4 per cent, to Rs 4,040 per 10 quintal with an open interest of 78,325 lots.

Similarly, guar seed for March delivery gained Rs 16 to Rs 4,084 per 10 quintal with an open interest of 16,975 lots.

According to marketmen, raising of bets by speculators tracking a firm trend at spot market on thin supplies from growing belts mainly led to rise in guar seed prices here. SHW ANU