Chana trades higher by 0.2% on spot demand

Chana prices traded higher by 0.16% to Rs 3,071 per quintal in futures market today as speculators enlarged positions, supported by an improvements in demand in the spot market.

 

However, expectations of higher output this season on favourable weather for sowing, restricted the gains.

 

At the National Commodity and Derivatives Exchange, chana for delivery in December rose by Rs 5, or 0.16%, to Rs 3,071 per quintal with an open interest of 80,590 lots.

 

Similarly, commodity for delivery in January traded higher by Rs 3, or 0.10%, to Rs 3,157 per quintal in 54,730 lots.

 

Traders said speculators enlarged their positions, supported by an improvement in demand in the spot market, mainly helped chana prices to trade higher at futures trade.

 

Some enquiries from dal mills further fuelled the uptrend, they said.