With speculators increasing their holdings in response to robust demand in the spot market, the price of guar gum experienced a rise of Rs 21, reaching Rs 8,633 per quintal in futures trading. This increase was driven by the fact that the demand in the spot market was solid.

During the month of November, the NCDEX witnessed an upward movement in the contracts for guar gum that were due for delivery. These contracts experienced an appreciation of Rs 21, which is equivalent to 0.24%, reaching a price point of Rs 8,633 per quintal. Additionally, there was an open interest amounting to 33,080 lots.

Following a thorough analysis of the actual market dynamics that were now in place, market analysts made the observation that traders subsequently increased their speculative holdings, which led to an upward trajectory in the prices of guar gum.