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Chana futures up as demand picks up

Chana remained higher and added Rs 35 to Rs 4,617 per quintal in futures trading today.

Chana remained higher and added Rs 35 to Rs 4,617 per quintal in futures trading today as speculators enlarged their positions,driven by pick up in demand in the spot market.

However,a revival in monsoon rains that raised hopes of higher sowing restricted the gain.

At the National Commodity and Derivatives Exchange,chana for delivery in October moved up by Rs 35,or 0.76 per cent,to Rs 4,617 per quintal,with an open interest of 91,890 lots.

Similarly,the commodity for delivery in September traded higher by Rs 33,or 0.71 per cent,to Rs 4,669 per quintal,with an open interest of 15,810 lots.

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Marketmen said increased buying by speculators,driven by pick up in spot market demand mainly kept chana futures firm.

First published on: 13-09-2012 at 04:11:37 pm
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