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Chana moves up in futures trade on spot demand

speculators enlarged positions, tracking a firm spot markets trend on the back of rising demand

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Press Trust of India New Delhi

Chana prices moved up by Rs 10 to Rs 4,278 per quintal in futures trade today as speculators enlarged positions, tracking a firm spot markets trend on the back of rising demand.

However, expectations of higher output restricted the gain.

At the National Commodity and Derivatives Exchange, the december contract for chana rose by Rs 10, or 0.23%, to Rs 4,278 per quintal, with an open interest of 70,090 lots.

The January contract traded higher by Rs 8, or 0.20%, to Rs 4,060 per quintal, with an open interest of 99,220 lots.

Marketmen said increased buying by speculators, tracking a firm trend at spot market on pick up in demand in the spot market mainly led to rise in chana prices at futures trade.

 

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First Published: Nov 22 2012 | 1:09 PM IST

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