Futures Market Witnesses Increased Activity
Guar gum prices climbed by Rs 42 to settle at Rs 10,408 per quintal in futures trading on Tuesday, driven by heightened speculative activity and robust demand in the spot market.
On the National Commodity and Derivatives Exchange (NCDEX), guar gum futures for May delivery recorded an increase of Rs 42, marking a gain of 0.40 percent. Contracts settled at Rs 10,408 per quintal, supported by an open interest of 28,640 lots.
Analysts Highlight Firm Spot Demand
Market analysts attributed this upward trend to the strengthening of spot market prices, prompting traders to expand their positions. The growing speculative buying reflected market sentiment driven by steady physical demand for guar gum.
The price increase underlines the current market momentum, indicating sustained interest and a bullish outlook among market participants.
