Chana gains by 0.9% on upsurge in demand

Chana prices rose further by 0.87% to Rs 5,313 per quintal in futures trade today as traders enlarged positions on the back of rising demand in the spot market supported by ongoing festive season.

At the National Commodity and Derivatives Exchange, chana for delivery in far-month December rose Rs 46, or 0.87%, to Rs 5,313 per quintal, with an open interest of 40,900 lots.

Likewise, the commodity for delivery in November gained Rs 42, or 0.80%, to Rs 5,290 per quintal in 67,920 lots.

Analysts attributed the rise in chana prices to upsurge in demand in the spot market, driven by festive season against restricted supplies from producing belts.