Mumbai After discarding around three per cent gains yesterday, guar seed and guar gum futures were trading marginally down as bearish sentiments continue to prevail among traders and speculators during early trade on the National Commodity and Derivatives Exchange [NCDEX] Thursday. The market is depressed over continuing weakness in physical markets on expectations of rainfall.

Spot guar prices continued their downward movement at major physical markets Wednesday amid predictions of rainfall on September 12-13 in Rajasthan. Traders say, production equations could change if the standing crop in guar-growing areas in western Rajasthan does not get rainfall immediately.

As on September 09, demat stock of guar seed in NCDEX-monitored warehouse was 56,400 tonnes whereas 362 tonnes were in process. Demat stocks of guar gum were at 6,167 tonnes while zero tonne were in process. MCX-accredited warehouses were stacking up 30 tonnes of guar seed as of September 09.

NCDEX September guar seed opened down Re one at Rs 1,620/quintal, and tossed between Rs 1,607 and Rs 1,622/quintal. At 11.22 am IST, the contract traded down Rs five at Rs 1,616/quintal with a volume 6010 tonnes.

Benchmark November guar seed opened down Rs three at Rs 1,672/quintal, and fluctuated between Rs 1,662 and Rs 1,677/quintal. At 11.23 am IST, the contract traded down Rs five at Rs 1,670/quintal with a volume of 36,230 tonnes.

NCDEX September guar gum opened up Rs 21 at Rs 4,024/quintal, and tossed between Rs 4,015 and Rs 4,050/quintal. At 11.18 am IST, the contract traded up Rs five at Rs 4,050/quintal with a volume of 135 tonnes.

Benchmark September guar gum opened up Re one at Rs 4,176/quintal, and saw movement between Rs 4,155 and Rs 4,185/quintal. At 11.19 am IST, the contract traded down Rs four at Rs 4,171/quintal with a volume of 260 tonnes.