Guar seed futures gain on spot demand

New Delhi, Jul 16 (PTI) Guar seed prices on Tuesday rose Rs 14 to Rs 5,442 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for July delivery rose Rs 14 or 0.26 per cent to Rs 5,442 per 10 quintals with an open interest of 3,055 lots.

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