Guar seed futures gain on spot demand

New Delhi, April 3 (PTI) Guar seed prices on Monday rose by Rs 40 to Rs 5,743 per 10 quintals in futures trade after speculators increased their positions, driven by a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed for April contracts increased by Rs 40 or 0.70 per cent to Rs 5,743 per 10 quintals with an open interest of 38,025 lots.

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