Chana futures climb 1.01%, spurred by robust demand

Chana prices rose 1.01 per cent to Rs 5,000 per quintal in futures trade today on huge bets, supported by soaring demand from dal mills in the spot market amid restricted supplies.

At the National Commodity and Derivatives Exchange, chana for delivery in the current month advanced Rs 50, or 1.01 per cent, to Rs 5,000 per quintal with an open interest of 3,000 lots.

Similarly, the commodity for delivery in December contracts edged higher by Rs 16, or 0.32 per cent, to Rs 4,927 per quintal in 28,960 lots.

Analysts attributed the persistent rise in chana prices in futures trade to widening of positions by speculators, tracking a firm trend at the domestic spot market on strong demand.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)