Guar gum futures slide on profit-booking, negative spot cues

Guar gum prices went down by Rs 233 to Rs 8,885 per quintal in futures trade today as investors indulged in offloading holdings, tracking a weak trend at the physical markets.

Marketmen said cutting down of position by participants in-line with a subdued scenario at the spot markets due to slackness in export demand, mainly attributed the fall in guar gum prices at futures market here.

At the National Commodity and Derivatives Exchange, guar gum to be delivered in November plunged by Rs 233, or 2.56 per cent, to Rs 8,885 per quintal, having an open interest of 425 lots.

Also, the October delivery slipped by Rs 130, or 1.46 per cent, to Rs 8,780 per quintal, showing a business turnover of 56,105 open lots.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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