Chana up 0.5% on spot demand

Chana prices were up by 0.57% to Rs 3,002 per quintal in futures market today as speculators indulged in creating fresh positions on the back of rising demand in the spot market.

At the National Commodity and Derivatives Exchange, chana for delivery in January gained Rs 17, or 0.57% to Rs 3,002 per quintal with an open interest of 84,710 lots.

Similarly, the commodity for delivery in February traded higher by Rs 16, or 0.53% to Rs 3,019 per quintal in 39,480 lots.

Analysts said fresh positions created by speculators following a pick up in demand in the spot markets, mainly led to rise in chana prices at futures trade.