Mumbai After suffering losses in the previous session, guar seed and guar gum futures recovered the losses and were trading up on short covering and fresh buying by traders and speculators during initial hours of session on the National Commodity and Derivatives Exchange [NCDEX] Thursday. The futures are getting support of the reports on weakening of monsoon in major guar-growing areas in the country.

Spot guar prices marched ahead at major physical markets Tuesday amid weakness in monsoon in major guar-growing areas in the country.

As on September 01, demat stock of guar seed in NCDEX-monitored warehouse was 57,190 tonnes whereas 299 tonnes were in process. Demat stocks of guar gum were at 6,291 tonnes while zero tonne were in process. MCX-accredited warehouses were stacking up 30 tonnes of guar seed as of September 01.

NCDEX September guar seed opened up Rs 15 at Rs 1,769/quintal, and tossed between Rs 1,762 and Rs 1,777/quintal. At 11.16 am IST, the contract traded up Rs 14 at Rs 1,768/quintal with a volume 8300 tonnes.

Benchmark November guar seed opened up Rs five at Rs 1,819/quintal, and fluctuated between Rs 1,819 and Rs 1,839/quintal. At 11.16 am IST, the contract traded up Rs 13 at Rs 1,827/quintal with a volume of 46,120 tonnes.

NCDEX September guar gum opened up Rs 48 at Rs 4,390/quintal, and tossed between Rs 4,365 and Rs 4,390/quintal. At 11.17 am IST, the contract traded up Rs 31 at Rs 4,375/quintal with a volume of 55 tonnes.

Benchmark September guar gum opened up Rs 56 at Rs 4,540/quintal, and saw movement between Rs 4,505 and Rs 4,540/quintal. At 11.17 am IST, the contract traded up Rs 31 at Rs 4,515/quintal with a volume of 215 tonnes.