Chana futures extend gains, climb 1.52% on rising demand

Buoyed by surging domestic demand and restricted supplies from producing belts, chana continued its upward march with prices rising by another 1.52 per cent to Rs 4,535 per quintal in futures trade today as traders engaged in enlarging their positions.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month April surged by Rs 68, or 1.52 per cent to Rs 4,535 per quintal with an open interest of 20,020 lots.
Also, the commodity for delivery in January contracts gained Rs 58, or 1.20 per cent to Rs 4,877 per quintal in 10,400 lots.
Analysts said participants enlarged positions on the back of rising demand in the spot market against restricted supplies from producing regions mainly kept chana prices higher at futures trade.