Chana futures extend gains, up 0.23% on strong demand

Continuing its rising streak for the fourth straight day, chana gained another 0.23 per cent to Rs 4,370 per quintal in futures trading today as participants widened their bets, triggered by good demand in the spot market.
Furthermore, restricted supplies from producing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, chana for delivery in April month moved up by Rs 10, or 0.23 per cent to Rs 4,370 per quintal with an open interest of 29,270 lots.
Likewise, the commodity for delivery in May contracts traded higher by a similar margin to Rs 4,439 per quintal in 10,610 lots.

Analysts said besides strong demand in the spot market, restricted supplies from producing belts led an upward trend in chana prices at futures trade.