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Chana futures rises for second day in row

Chana
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prices remained higher for the second straight day by adding Rs 4 to Rs 3,295 per quintal today, as speculators enlarged their positions, supported by firming trend at spot market.

At the National Commodity and Derivative Exchange, chana for delivery in December added Rs 4, or 0.12%, to Rs 3,295 per quintal, with an open interest of 1,71,430 lots.

Likewise, the commodity for delivery in January traded higher by the same margin to Rs 3,364 per quintal, with a trade volume of 84,010 lots.

Market analysts said apart from increased buying by traders, pick-up in demand in the mainly led to rise in chana futures prices.

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