Rising demand lifts chana futures by 2.81%
Chana prices moved 2.81 per cent higher to Rs 4,060 per quintal in futures trade today as participants raised bets on account of increased demand from dal mills in spot markets.
Besides, tight stocks position following a drop in arrivals from producing regions also fuelled the uptrend.
In futures trading, at the National Commodity and Derivatives Exchange, chana for delivery in January advanced Rs 111, or 2.81 per cent, to Rs 4,060 per quintal with an open interest of 24,850 lots.
Similarly, the commodity for delivery in March edged Rs 47, or 1.24 per cent, higher to Rs 3,841 per quintal in 77,370 lots.
Analysts attributed the rise in prices to widening of positions by speculators, tracking a firm trend in the domestic spot markets.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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