Chana futures rise 1.1% on good buying activity

Chana prices rose by 1.06% to Rs 2,662 per quintal in futures trade today as traders enlarged their holdings on good demand in spot market.

 

Demand improved in local market, though hopes of a rise in summer-sown pulses output restricted the upside.

 

At the National Commodity and Derivatives Exchange, chana for delivery in August rose by Rs 28, or 1.06%, to Rs 2,662 per quintal, with an open interest of 2,663 lots.

 

Similarly, the commodity for delivery in September gained Rs 27, or 1.01%, to Rs 2,702 per quintal, with an open interest of 1,15,720 lots.

 

Traders said speculators increasing their holdings on hopes of a rise in spot market demand and enquiries by millers at lower levels supported chana futures prices.

 

They said fall in supply from the producing regions of Rajasthan and Madhya Pradesh further influenced the sentiment.