Chana moves up in futures trade on spot demand

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SummaryChana prices moved up by Rs 10 to Rs 4,278 per quintal in futures trade.

Chana prices moved up by Rs 10 to Rs 4,278 per quintal in futures trade today as speculators enlarged positions, tracking a firm spot markets trend on the back of rising demand.

However, expectations of higher output restricted the gain.

At the National Commodity and Derivatives Exchange, chana for delivery in December rose by Rs 10, or 0.23 per cent, to Rs 4,278 per quintal, with an open interest of 70,090 lots.

Likewise, the commodity for delivery in January traded higher by Rs 8, or 0.20 per cent, to Rs 4,060 per quintal, with an open interest of 99,220 lots.

Marketmen said increased buying by speculators, tracking a firm trend at spot market on pick up in demand in the spot market mainly led to rise in chana prices at futures trade.

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