Guar seed futures gain on spot demand

New Delhi, Aug 7 (PTI) Guar seed prices on Wednesday rose Rs 16 to Rs 5,294 per quintal 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 August delivery rose Rs 16 or 0.30 per cent to Rs 5,294 per quintal with an open interest of 22,065 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. PTI SGC DR