Business Standard

Chana futures up on spot demand

Image

Press Trust of India New Delhi

Chana futures prices rose by Rs 13 to Rs 2,586 per quintal today as speculators created fresh positions, driven by pick up in demand in spot market.

Less arrivals from producing regions in the physical market also supported the uptrend in chana futures prices.

At the National Commodity and Derivatives Exchange, chana for delivery in May rose by Rs 13, or 0.51 per cent, to Rs 2,586 per quintal, with an open interest of 69,060 lots.

Likewise, the spice for delivery in April gained Rs 10, or 0.40 per cent, to Rs 2,538 per quintal, with a business volume of 1,08,130 lots. 

 

Analysts said speculators enlarged their positions on the back of a rise in demand in the spot market mainly pushed up chana prices at futures trade.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 21 2011 | 1:36 PM IST

Explore News