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Chana gains 1.25% on spot demand

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Press Trust of India New Delhi

Chana prices moved up by Rs 47 to Rs 3,822 per quintal in futures trade today as speculators created fresh positions, driven by pick-up in spot demand.

Estimates of a decline in output also supported the uptrend in chana futures.

At the National Commodity Derivatives Exchange, chana for delivery in April rose by Rs 47, or 1.25%, to Rs 3,822 per quintal, with an open interest of 106,620 lots.

The March contract gained Rs 36, or 0.98%, to Rs 3,693 per quintal, with an open interest of 53,980 lots.

Analysts said fresh buying by speculators on the back of a firming trend at spot markets following pick-up in demand mainly pushed up chana prices at futures trade.

 

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First Published: Mar 09 2012 | 1:53 PM IST

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