Chana prices higher on high buying activity

Chana prices rose by Rs 64 to Rs 2,888 per quintal in futures trade today as traders enlarged their holdings on rising demand in the spot market.

 

Restricted arrivals in the physical market also influenced the market sentiment.

 

At the National Commodity and Derivatives Exchange, chana for delivery in August rose by Rs 64, or 2.27% to Rs 2,888 per quintal, with an open interest of 11,240 lots.

 

Similarly, chana prices for delivery in September higher by Rs 57, or 2%, to Rs 2,914 per quintal, with an open interest of 1,62,730 lots.

 

Traders said speculators increasing their holdings on hopes of rise in spot market demand ahead of festivals against restricted arrivals of the commodity in the physical market.