Chana up on better spot demand

Delayed sowing due to less rainfall also supported trading sentiment

Chana prices rose by Rs 56 to Rs 4,677 per quintal in futures trade today as speculators enlarged their positions on good demand in the spot market.

Delayed sowing due to decline in rainfall in major producing regions also supported the trading sentiment.

At the National Commodity Derivatives Exchange, chana for August contract rose by Rs 56, or 1.21%, to Rs 4,677 per quintal, with an open interest of 1,10,640 lots.

Similarly, the commodity for delivery in July gained Rs 55, or 1.21%, to Rs 4,600 per quintal, with an open interest of 12,100 lots.

Analysts said increased buying by speculators on good demand in the spot market mainly led to a rise in chana futures prices.