Chana futures up on fresh buying

Written by Agencies | New Delhi | Updated: Jun 30 2011, 22:20pm hrs
Chana prices traded higher by Rs 5 to Rs 2,767 per quintal in futures trade on Thursday as speculators enlarged their positions on better demand in the spot market.

Reduced arrivals from producing region further supported the uptrend in futures trade.

At the National Commodity and Derivatives Exchange, chana for delivery in July traded rose by Rs 5, or 0.18 per cent, to Rs 2,767 per quintal, with an open interest of 195,360 lots.

Similarly, the commodity for delivery in August edged up by Rs 4, or 0.14 per cent, to Rs 2,838 per quintal in 189,720 lots.

Traders said fresh buying by speculators on the back of better spot market trend on pick-up in demand mainly led to rise in chana futures prices.