India guar futures fall on arrivals

MUMBAI, Nov 17 (Reuters) - Indian guar futures fell sharply at open on Monday as arrivals picked up from western Rajasthan, analysts and a trader said.

Bulk arrivals from the western region have been coming in since Saturday and the market had received about 60,000 bags of 100 kg each by 10:45 a.m, a trader said in Jodhpur.

The futures fell by its maximum lower limit of 4 percent on Saturday as arrivals rose to 170,000 bags of 100 kg each, higher than the 120,000 bags on the other days of the week, analysts and traders said.

At 10:58 a.m, January guar futures contract NGUF9 on the National Commodity and Derivatives Exchange was at 1,592 rupees per 100 kg, down 3.22 percent.

(Reporting by Sourav Mishra; editing by Sunil Nair)