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This is an archive article published on April 27, 2010

Guarseed futures fell on profit booking

Guarseed prices turned weak by Rs 30 or 1.13 per cent to Rs 2,623 per quintal in futures trade today following selling pressure at prevailing higher levels. Marketmen said,lower offtake by guargum and cattle-feed makers amid increased supply in physical markets at persisting higher prices and pulled down the prices of guarseed in futures trading. […]

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Guarseed prices turned weak by Rs 30 or 1.13 per cent to Rs 2,623 per quintal in futures trade today following selling pressure at prevailing higher levels.

Marketmen said,lower offtake by guargum and cattle-feed makers amid increased supply in physical markets at persisting higher prices and pulled down the prices of guarseed in futures trading.

Profit booking by traders guided by a weak spot market trend also influenced the trading sentiment,they added.

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At the National Commodity and Derivatives Exchange (NCDEX),guarseed for September contract dropped by Rs 30 or 1.13 per cent to Rs 2,623 per quintal in 430 lots.

May contract also lost by Rs 17 or 0.66 per cent to Rs 2,546 per quintal and with an open interest of 1,84,940 lots.

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