Mumbai - Heavy profit-booking by traders following sharp gains during the weekend pulled guar seed and guar gum futures sharply down on the National Commodity and Derivatives Exchange [NCDEX] Monday. Guar gum futures were trading down almost four per cent during initial hours of trade. The futures had gained sharply during the weekend as speculators had showed interest in other commodities after the FMC banned futures trading in chana, rubber, soybean and potato.

NCDEX May guar seed opened up Rs six at Rs 1,888/quintal, and witnessed movement between Rs 1,838 and Rs 1,888/quintal. At 10.42 am IST, the contract traded down Rs 43 at Rs 1,851/quintal with a volume 7100 tonnes.

Benchmark NCDEX June guar seed opened down Rs five at Rs 1,829/quintal, and tossed in the range of Rs 1,876 and Rs 1,939/quintal. At 10.42 am IST, the contract traded down Rs 44 at Rs 1,890/quintal with a volume of 51,890 tonnes.

NCDEX May guar gum opened down Rs 13 at Rs 4,615/quintal, and saw movement between Rs 4,493 and Rs 4,615/quintal. At 10.36 am IST, the contract traded down Rs 128 at Rs 4,500/quintal with a volume of 170 tonnes.

Benchmark June guar gum opened down Rs 43 at Rs 4,672/quintal, and saw movement between Rs 4,575 and Rs 4,675/quintal. At 10.40 am IST, the contract traded down Rs 111 at Rs 4,604/quintal with a volume of 360 tonnes.