Chana up 0.31% on rise in demand

speculators enlarged their positions, driven by pick up in demand in the spot market

Image
Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 6:29 AM IST

Chana prices rose by Rs 13 to Rs 4,150 per quintal in futures trade today as speculators enlarged their positions, driven by pick up in demand in the spot market.

Slow sowing due to a delayed harvesting of summer-sown crops in some states supported the buying.

At the National Commodity and Derivatives Exchange, the Jnauary contract chana for delivery in January rose by Rs 13, or 0.31% to Rs 4,150 per quintal, with an open interest of 79,000 lots.

The December contract edged up by Re 1, or 0.02%, to Rs 4,275 per quintal in a trade volume of 62,720 lots.

Market analysts said increased buying by speculators, driven by pick-up in demand in the spot market mainly led to rise in chana futures.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Nov 29 2012 | 2:58 PM IST

Next Story