Rising demand lifts chana futures 1.78 pc

Chana prices went up by 1.78 per cent to close at Rs 5,041 per quintal in futures trade today as participants enlarged positions, driven by rising demand from dal mills at spot market.

Besides, tight stocks position following drop in arrivals from producing regions too fueled the uptrend.

At the National Commodity and Derivatives Exchange, chana for delivery this month advanced Rs 88, or 1.78 per cent, to close at Rs 5,041 per quintal with an open interest of 19,670 lots.

The commodity for delivery in December month edged higher by Rs 68, or 1.40 per cent, to end at Rs 4,910 per quintal in 25,080 lots.

Analysts attributed the rise in chana prices to surging demand at spot market against restricted supplies from producing regions.

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