Guargum Jumps Around 1%, Export Demand Supportive

16 Mar 2022 , 01:18 PM

The NCDEX Guargum futures rose in volatile trades today after witnessing a sharp slide in last session. The near month contract expiry is looming on the horizon and overall movement is choppy. The commodity tracked a wild run in crude oil prices over last few sessions and sentiments were helped by a recovery in WTI Crude oil from two week high today as market eyed better export prospects for Guargum. The NCDEX Guargum futures for April are trading at Rs 11165 per tonne, up around 1% on the day. The counter had hit a three week high near Rs 11600 per tonne on Monday before correcting. The exports have been picking up in recent months and will be elevated given the sustained increase in US oil rig count.

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