Festive season demand lift chana futures, up 3.20%

Chana prices rose 3.20 per cent to Rs 4,517 per quintal in futures trade today as traders enlarged holdings in the commodity on account of good demand in the spot market triggered by festive season.
Besides, lower estimated output influenced the chana prices.
At the National Commodity and Derivatives Exchange, chana for September delivery rose by Rs 140, or 3.20 per cent, to Rs 4,517 per quintal, with an open interest for 1,620 lots.
Similarly, chana for delivery in October increased by Rs 132, or 3 per cent, to Rs 4,534 per quintal, with an open interest of 77,030 lots.

Analysts said speculators increasing their holdings on pick up in spot demand, mainly pushed up chana prices.
They said reports of lower output estimates also supported the upside in commodity prices.