Chana futures extend gains, up 1.04% on strong demand

Continuing its rising streak for the third straight day, chana gained another 1.04 per cent to Rs 6,025 per quintal in futures trading today as participants widened their bets, triggered by rising spot demand.
Furthermore, restricted supplies from producing regions following lower output expectations and costlier imports, supported the upside in chana prices.
At the National Commodity and Derivatives Exchange, chana for delivery in current month up by Rs 62, or 1.04 per cent to Rs 6,025 per quintal with an open interest of 120 lots.
Likewise, the commodity for delivery in June contracts traded higher by Rs 35, or 0.59 per cent to Rs 5,998 per quintal in 18,110 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.