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Chana futures remain higher on physical demand

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Press Trust of India New Delhi

Chana prices rose by Rs 10, or 0.45 per cent, to Rs 2,210 per quintal in futures trade today, on the back of pick up in spot demand for the festive season.

Restricted arrivals in the spot market also influenced the chana prices at futures market here.

At the Multi commodity Exchange counter, chana for delivery in current-month August remained higher by Rs 10, or 0.45 per cent, to Rs 2,210 per quintal, with a trading volume of 54 lots.

The commodity for delivery in September-month also traded higher by Rs 7, or 0.31 per cent, to Rs 2,248 per quintal, with an open interest of 39 lots.

 

Market analysts said fresh positions created by speculators driven by rising demand in the spot market season influenced the market sentiment.

They said restricted arrivals in spot market further supported the uptrend.

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First Published: Aug 12 2010 | 3:11 PM IST

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