Chana futures up 0.91% on good demand

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SummaryChana prices rose by Rs 41 to Rs 4,547 per quintal in futures trade.

Chana prices rose by Rs 41 to Rs 4,547 per quintal in futures trade today as speculators enlarged their holdings, following rising demand in the market due to the festive season.

Restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.

At the National Commodity and Derivatives Exchange, chana for November delivery rose by Rs 41, or 0.91 per cent, to Rs 4,547 per quintal, with an open interest for 78,260 lots.

Similarly, chana for delivery in December increased by Rs 34, or 0.80 per cent, to Rs 4,310 per quintal, with an open interest for 74,430 lots.

Traders said speculators increased their holdings on rising demand in spot market demand due to festive season, which mainly pushed up chana prices.

They said enquiries by millers at lower levels amid fall in supply from the producing regions of Rajasthan and Gujarat further supported the uptrend in futures trade.

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