India, June 3 -- Guar seed futures moved higher on Wednesday as investors increased their positions in the commodity despite weakness in spot market prices.
On the National Commodity and Derivatives Exchange (NCDEX), guar seed contracts for June delivery rose by Rs 30, or 0.51%, to Rs 5,959 per quintal. The contract recorded an open interest of 39,940 lots.
According to market participants, fresh buying interest and higher investor bets in the futures market supported prices, even as spot market rates remained under pressure.
The rise in futures prices reflects traders' expectations of improved demand and near-term price support in the guar seed market.
Published by HT Digital Content Services with permission from Dion Global Solutions ...