Festive demand lifts chana futures 3 pc

Chana prices closed 3 per cent higher at Rs 5,065 a quintal in futures trade today as participants created fresh positions on rising festive demand.
At the National Commodity and Derivatives Exchange, chana for delivery in September rose by Rs 147, or 3 per cent, to close at Rs 5,065 per quintal, with an open interest of 16,350 lots.
On similar lines, the commodity for delivery in October edged up by Rs 146, or 2.99 per cent, to end at Rs 5,035 per quintal in 11,140 lots.
Analysts said fresh positions built up by traders on the back of rising festive demand and improved buying support at lower rate lifted chana prices in futures trade.