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Chana futures up on firm spot market demand

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 9:33 PM IST

Chana prices moved up for the third straight day by adding Rs 8 to Rs 2,340 per quintal in futures trade today as speculators enlarged their positions on expectations of a rise in demand in the domestic market. 

Restricted arrivals from producing region of Rajasthan and Madhya Pradesh further supported the uptrend in futures trade.

At the National Commodity and Derivatives Exchange, chana for delivery in May rose by Rs 5, or 0.34% to Rs 2,340 per quintal, with an open interest of 85,540 lots. 

The chana for June delivery gained Rs 7, or 0.29% to Rs 2,418 per quintal, with trade volume of 1,42,950 lots. 

Likewise, its prices for delivery in July moved up by Rs 6, or 0.24% to Rs 2,485 per quintal, with a business turnover of 74,280 lots.

Traders said increasing of positions by speculators on hopes of a rise in the spot market demand mainly pushed up chana prices in futures trade.

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First Published: May 12 2011 | 2:10 PM IST

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