Chana moves up over 1 pc in futures on rising demand

Chana prices climbed 1.01 per cent to Rs 2,814 per quintal in futures trade today as speculators engaged in enlarging positions supported by rising demand in the spot market.
In addition, tight stocks position in the physical markets on restricted arrivals from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in June gained Rs 28, or 1.01 per cent to Rs 2,814 per quintal with an open interest of 1,66,790 lots.
Likewise, the commodity for delivery in August contract traded higher by Rs 28, or 0.98 per cent to Rs 2,886 per quintal in 48,410 lots.

Analysts said speculators enlarged positions on the back of rising demand in the spot market against fall in arrivals from producing belts that led to an upward trend in chana prices at futures trade.