Don’t miss the latest developments in business and finance.

Chana futures remain up on rising spot demand

Image
Press Trust of India New Delhi
Last Updated : Dec 18 2014 | 6:26 PM IST
Taking positive cues from spot market on rising demand, chana prices advanced by 1.83 per cent to Rs 3,288 per quintal in futures trade today as speculators enlarged positions.
Further, lower output expectations also supported the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in January next year moved up by Rs 59, or 1.83 per cent to Rs 3,288 per quintal with an open interest of 84,350 lots.
Likewise, the commodity for delivery in December contract traded higher by Rs 35, or 1.12 per cent to Rs 3,161 per quintal in 400 lots.
Analysts said speculators enlarged positions, supported by rising demand in the spot market against limited arrivals from the major producing belts, mainly kept chana prices higher at futures trade.

More From This Section

First Published: Dec 18 2014 | 6:26 PM IST

Next Story