Chana prices surged by 3.99 per cent to hit upper circuit at Rs 6,173 per quintal in futures trading today after prices spurted at spot markets on strong demand.
At the National Commodity and Derivatives Exchange, chana for delivery in October surged by Rs 237, or 3.99 per cent, to hit upper limit of Rs 6,173 per quintal with an open interest of 20,450 lots.
The commodity for delivery in September climbed by Rs 181, or 3 per cent to Rs 6,215 per quintal in 25,120 lots.
Market analysts attributed the sharp rally in chana futures to widening of positions by participants on the back of strong demand in physical market.
Restricted supplies from producing regions also boosted the price rise.
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