Chana futures up by 1 pc on pick up in demand

Chana prices spurted by 1.07 per cent to Rs 4,518 per quintal in futures trading today as participants enlarged positions, tracking a firm trend at spot market on rising demand.
Expectations of lower output following unseasonal rains in North India too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, chana for delivery in April month was trading higher by Rs 48 or 1.07 per cent to Rs 4,518 per quintal with an open interest of 24,740 lots.
Likewise, the commodity for delivery in May contracts traded higher by Rs 48, or 1.06 per cent to Rs 4,592 per quintal in 27,770 lots.

Analysts said increasing of positions by traders, driven by pick up in demand in the spot market mainly kept chana prices higher at futures trade.