Guar seed futures gain on spot demand

New Delhi, Aug 19 (PTI) Guar seed prices on Monday rose Rs 11 to Rs 5,294 per quintal in 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 August delivery rose Rs 11 or 0.21 per cent to Rs 5,294 per quintal with an open interest of 54,990 lots.

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