Chana futures rise on spot demand

Chana prices rose by Rs 10, or 0.48 per cent, to Rs 2,108 per quintal in futures trade today, as speculators enlarged their positions, supported by a rise in spot market demand.

At the Multi Commodity Exchange counter, chana for October delivery rose Rs 10, or 0.48 per cent, to Rs 2,108 per quintal, with an open interest of 840 lots.

Similarly, the chana for delivery in September gained Rs 6, or 0.29 per cent, to Rs 2068 per quintal, with an open interest of 532 lots. 

Analysts said fresh positions created by speculators after a rise in demand in the spot market, against less stocks pushed up the chana prices at futures trade.