New Delhi, Apr 11 (PTI) Guar gum prices rallied by Rs 40 to Rs 8,770 per quintal in futures trade today after creating fresh positions by the operators, tracking bullish physical markets trend amidst rising export demand.

Market players said traders were accumulating bets inspired by an uptrend in the spot markets due to pick up in export demand for oil drilling industries, which described up surge in guar gum futures prices.

At the National Commodity and Derivative Exchange counter, guar gum delivery for April increased by Rs 40 or 0.46 per cent to Rs 8,770 per quintal, clocking an open interest of 3,110 lots.

Most active second contract May delivery also edged up by Rs 36 or 0.41 per cent to Rs 8,903 per quintal, open interest stood at 57,440 lots.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)