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Spot demand lifts chana futures, up 0.87 pc

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Press Trust of India New Delhi
Chana prices were up by 0.87 per cent to Rs 6,278 per quintal in futures trade today as participants enlarged their positions, tracking a firm trend at spot market on rising demand.

Besides, expectations of lower output supported the upside.

At the National Commodity and Derivatives Exchange, chana for delivery in June shot up by Rs 54 or 0.87 per cent to Rs 6,278 per quintal with an open interest of 3,200 lots.

Similarly, the commodity for delivery in far-month July contracts gained Rs 29 or 0.46 per cent to Rs 6,335 per quintal in 16,060 lots.

Analysts said widening of positions by traders, driven by strong demand in the spot market against restricted supplies from producing regions, mainly pushed up chana prices at futures trade.

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First Published: Jun 06 2016 | 11:22 AM IST

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