Chana futures rise 1.42 pc on strong demand, tight supply

Chana prices moved up by Rs 43 or 1.42 per cent to Rs 3,069 per quintal in futures trade today as speculators engaged in enlarging positions, tracking a firm trend at spot market.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month August rose by Rs 43, or 1.42 per cent to Rs 3,069 per quintal with an open interest of 87,050 lots.
In a similar fashion, the commodity for delivery in July contract gained Rs 37, or 1.29 per cent to Rs 2,911 per quintal in 1,24,270 lots.
Analysts said speculators enlarged positions on the back of strong demand in the spot market amid restricted arrivals from producing belts that led to an upward trend in chana prices at futures trade. PTI KPS SUN

Besides, tight stocks position in the physical markets on tight supplies from producing regions supported the upside.