Guar seed futures gain on spot demand

New Delhi, Oct 29 (PTI) Guar seed prices on Tuesday rose Rs 8 to Rs 5,297 per quintal in the futures trade after speculators widened their positions amid a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for November delivery increased Rs 8 or 0.15 per cent to Rs 5,297 per quintal with an open interest of 40,945 lots.

According to marketmen, raising bets by speculators, a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices.