National Commodity and Derivatives Exchange Limited (NCDEX) on Monday launched the futures contract on NCDEX GUAREX, India’s first sectoral index in agri-commodities basket.

NCDEX GUAREX is a price based index tracking the price movement in the futures contracts of its underlying i.e. Guar Seed and Guar Gum Refined Splits on a real-time basis. The weightage of Guar Seed and Guar Gum Refined Splits in the index will be 63.43 percent & 36.57 percent, respectively.

“I take pride in announcing the launch of NCDEX GUAREX futures – India’s first sectoral agri-index futures contract. I am sure the contract will garner interest from all sets of participants, including the physical market participants,” said Mr. Arun Raste, managing director and chief executive officer, NCDEX.