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Chana futures up on firm demand in spot markets

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Press Trust of India New Delhi

Chana prices traded higher by Rs 4 to Rs 2,338 per quintal in futures trade today as speculators enlarged their positions on expectations of pick up in demand in spot markets.

Restricted arrivals from producing region also influenced trading sentiment in futures trading.

At the Multi Commodity Exchange, chana for August month gained Rs 4 or 0.17 per cent to Rs 2338 per quintal, with an open interest of 1551 lots.

Similarly, chana for delivery in September edged up by Rs 3 or 0.13 per cent to Rs 2380 per quintal in 199 lots.

Traders attributed the rise in chana futures prices to increased buying by speculators on hopes of pick up in demand in spot markets for the coming festival season.

 

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First Published: Jul 22 2010 | 12:29 PM IST

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