India guar futures tad higher on firm spot
MUMBAI, Oct 7 (Reuters) - Indian guar futures were trading slightly higher in afternoon trade on Tuesday as spot buying and short-covering offset worries on mounting warehouse stocks, analysts said.
Arrivals are increasing but spot demand is also strong, said an analyst with a Hyderabad-based brokerage.
Spot prices rose by 8 rupees to 1,642 rupees per 100 kg in Bikaner, a major trading centre. Arrivals were about 10,000 bags of 100 kg each by afternoon across major centres, a trader said.
New crop arrivals have started in Haryana and north Rajasthan, and are likely to rise further this week.
NCDEX-accredited warehouses stocks fell to 49,668 tonnes as on Oct. 6 from 49,828 tonnes in Oct.4, exchange data shows.
At 2:40 p.m, November contract NGUX8 on the National Commodity and Derivatives Exchange was at 1,685 rupees per 100 kg, up 0.18 percent.
(Reporting by Sourav Mishra; Editing by Ramya Venugopal)
© Thomson Reuters 2009 All rights reserved
One Year Later
Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and ratcheted up tensions with Pakistan. Slideshow | Full Coverage
Liberhan Commission Report
The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya. Full Article
