India, June 15 -- Guar seed futures traded higher on Monday as investors increased their positions in the commodity, supporting prices despite weakness in the spot market.
On the National Commodity and Derivatives Exchange, guar seed contracts for July delivery gained Rs 34, or 0.57 per cent, to Rs 6,020 per quintal. Open interest in the contract stood at 63,795 lots, reflecting active market participation.
According to market participants, the rise in futures prices was primarily driven by fresh buying and higher speculative bets by investors. The increased activity in the derivatives market helped support guar seed prices even as spot market rates remained under pressure.
Published by HT Digital Content Services with permission from Di...