Guar gum futures climb 1.66% on strong export demand; Kapas plunge 4.46%
NEW DELHI, JANUARY 2: Guar gum prices bounced ?150 to ?9,200 per quintal in futures trading on Tuesday as participants raised bets, supported by a firm trend in physical markets on the back of robust export demand.
Marketmen said widening of positions by participants following a firm trend in spot markets on strong export demand amid tight supplies in spot market helped bolstered guar gum prices in futures trade.
At the National Commodity and Derivative Exchange, guar gum for delivery in February shot up ?150, or 1.66 per cent, to ?9,200 per quintal, with the business turnover of 51,155 open lots.
The delivery for January also climbed ?134, or 1.50 per cent, to ?9,073 per quintal, with an open interest of 28,975 lots.
Kapas futures plunge 4.46 per cent on weak cues
Kapas prices slumped by ?46 to ?985 per 20 kilos in futures trade on Tuesday as participants indulged in offloading positions in sync with a weak trend at the physical markets.
Marketmen said trimming of positions by speculators, triggered by a subdued trend at the physical markets, mainly brought down kapas prices in futures trade here.
At the National Commodity and Derivative Exchange, kapas for delivery in February tumbled by ?46 or 4.46 per cent to ?985 per 20 kg, with an open interest of 3 lots.
The delivery for the most-traded April also dipped by a similar margin to trade at Rs. 985 per 20 kg, clocking an open interest of 9,638 lots.