As a result of an increase in speculative positions in response to vigorous demand in the spot market, the price of guar gum suffered a gain of Rs 185, reaching Rs 8,878 per quintal in futures trading. This increase was driven by the volatility of the global market.

The contracts for guar gum that were due for delivery in November on the NCDEX witnessed an upward movement, appreciating by Rs 185. This is a percentage gain of 2.08%, which resulted in the goods reaching a price point of Rs 8,878 per quintal. A total of 43,970 lots are currently open for interest, which is accompanied by this market activity.

In the aftermath of a thorough analysis of the existing physical market dynamics, market analysts made the observation that traders subsequently increased their speculative holdings, which led to an upward trajectory in the prices of guar gum product.