Spot demand lifts chana futures by 1.21%

Chana prices were up by 1.21 per cent to Rs 5,518 per quintal in futures market today as participants created fresh positions, driven by pick up in demand in the spot market.
Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.
At the National Commodity and Derivatives Exchange, chana for delivery in May month rose Rs 66, or 1.21 per cent to Rs 5,518 per quintal with an open interest of 19,100 lots.
In a similar fashion, the commodity for delivery in June contracts traded higher by Rs 57, or 1.03 per cent to Rs 5,615 per quintal in 12,930 lots.

Analysts said fresh positions created by traders after pick up in demand in the spot market amid restricted supplies from producing belts helped chana prices to trade higher at futures trade.