Chana futures remain upbeat, add 0.92% on strong demand

Chana remained firm and prices added another 0.92 per cent to Rs 5,240 per quintal in futures trading today as participants engaged in enlarging their positions, tracking a firm trend at spot market on surging demand.

Besides, tight stocks position following fall in arrivals from producing belts and some dal mills enquiries too fuelled the uptrend.

At the National Commodity and Derivatives Exchange, chana for delivery in October gained Rs 48, or 0.92 per cent to Rs 5,240 per quintal with an open interest of 13,890 lots.

Similarly, the commodity for delivery in September contracts was trading higher by Rs 43, or 0.82 per cent to Rs 5,288 per quintal in 16,980 lots.

Analysts said expanding of positions by traders following pick up in demand in the spot market against tight stocks position on fall in supplies from producing belts mainly, kept chana prices firm at futures trade.

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