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Chana futures up on tight supply, rising demand

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Press Trust of India New Delhi
Last Updated : Aug 12 2015 | 2:42 PM IST
Rising for the third straight day, chana prices moved up by 0.29 per cent to Rs 4,504 per quintal in futures trade today as speculators enlarged positions, driven by tight supplies from producing regions in the spot market.
At the National Commodity and Derivatives Exchange, chana for delivery in August month gained Rs 13, or 0.29 per cent to Rs 4,504 per quintal with an open interest of 15,310 lots.
Likewise, the commodity for delivery in September contracts edged up by Rs 9, or 0.20 per cent to Rs 4,516 per quintal in 1,57,790 lots.
Analysts said positions enlarged by speculators, triggered by tight supplies on restricted arrivals from producing belts the physical market against rising demand kept chana prices higher at futures trade.

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First Published: Aug 12 2015 | 2:42 PM IST

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