 "Chana up 1% on strong spot demand")
Chana prices increased by 1.48% to Rs 3,088 per quintal in futures trade today as speculators enlarged positions amid a firm trend at the spot market on strong demand against tight supplies from producing belts.
Expectations of lower output from major producing belts also supported the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in November shot up by Rs 45, or 1.48%, to Rs 3,088 per quintal with an open interest of 98,950 lots.
Analysts said speculators enlarged positions on the back of strong demand in the spot market against tight supplies from producing region which pushed up chana prices at futures trade.
Expectations of lower output from major producing belts also supported the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in November shot up by Rs 45, or 1.48%, to Rs 3,088 per quintal with an open interest of 98,950 lots.
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Similarly, the commodity for delivery in December gained Rs 44, or 1.43%, to Rs 3,122 per quintal in 54,830 lots.
Analysts said speculators enlarged positions on the back of strong demand in the spot market against tight supplies from producing region which pushed up chana prices at futures trade.