4:30 PM
Nifty Tips
The guar seed and guar gum futures ended on a flat note after witnessing both sided trading. Overall, the trading remained choppy on Saturday in absence of fresh fundamental triggers in the market. However, spot markets remained positive on strong buying interest and on emerging demand for its derivatives.
Outlook -The guar seed and guar gum futures are expected to trade on a positive note on resumption of fresh buying sup-ported by strong demand. Traders and stockists are likely to buy futures in anticipation of fresh guar gum export orders in near term. Indian traders are taking advantage of crop loss in Pakistan. Fresh gum export enquiries are pouring into the market resulting into price rise. The demand for churi and korma is also good and is likely to support the prices. Guar seed production is expected to be around 70-80 lakh bags this year on higher acreage. Carry-forward stock of guar seed and guar gum is estimated at 2 lakh tons.
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