Uptick in demand lifts chana by 0.56%

However, improved supplies following govt measures to kerb rising prices cap gains

Chana prices were up 0.56 per cent to Rs 4,818 a quintal in futures market today as participants enlarged positions, driven by pick up in demand in the spot market.

However, adequate stocks in the physical market on improved supplies following government measures to kerb rising prices, capped the rise.

At National Commodity and Derivatives Exchange, chana for delivery in far-month January 2016 rose Rs 27, or 0.56 per cent to Rs 4,818 per quintal with an open interest of 27,450 lots.

Likewise, the commodity for delivery in December contracts gained Rs 20, or 0.40 per cent to Rs 4,975 per quintal in 35,470 lots.
 
Analysts attributed the rise in chana prices to pick up in demand in the spot market.