Guar gum futures extend gains on export demand

Published on : July 20, 2018 Topic : Export

New Delhi, Jul 20 (PTI) Guar gum prices spurted for the third straight session by adding another Rs 129 to Rs 9,294 per quintal in futures trade today as investors widened their holdings amid robust export demand at the physical market.

Besides, falling rupee against the dollar also supported the upside.

Marketmen said upbeat physical sentiments buoyed by strong export demand and weakness in the rupee which collapsed to lifetime low of 69.12 to a dollar, supported the upside in guar gum prices at futures trade here.

At the National Commodity and Derivatives Exchange, guar gum for October contracts rallied by Rs 129, or 1.41 per cent, to Rs 9,294 per quintal, with a business turnover of 58,920 open lots.

Guar gum to be delivered in November also shot up by Rs 112, or 1.21 per cent, to Rs 9,355 per quintal with an open interest of 735 lots. PTI SDG SUN ANS ANS

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