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Chana up 2.6% on better spot demand

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 3:11 AM IST

Chana prices rose by Rs 99 to Rs 3,898 per quintal in futures trade today, as speculators enlarged their positions on good spot demand.

Restricted arrivals in the physical market also influenced the chana prices at futures trade.

At the National Commodity Derivatives Exchange, the April contract rose by Rs 99, or 2,14%, to Rs 3,898 per quintal, with an open interest of 1,03,550 lots.

The May delivery gained Rs 84, or 2,14%, to Rs 4,009 per quintal, with an open interest of 2,09,040 lots.

Analysts said increased buying by speculators on good demand in the spot market mainly led to the rise in chana prices in futures trade.

They said strong demand from millers and wholesale dealers and on fall in output this year, which outweighed arrival pressure in spot markets.

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First Published: Mar 21 2012 | 1:31 PM IST

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