Chana up by 2.7% on rising demand

Chana rose by Rs 86 to Rs 3,150 per quintal in futures trade today as traders enlarged their holdings on rising demand in the spot market.

    

Restricted arrivals of the commodity in the physical market, tracking a pick up in festival demand.

     

At the National Commodity and Derivatives Exchange, chana for delivery in November rose by Rs 86, or 2.81%, to Rs 3,150 per quintal, with an open interest of 96,110 lots.

     

Similarly, chana for delivery in December traded higher by Rs 85, or 2.72%, to Rs 3,209 per quintal, with an open interest of 61,210 lots.

     

Traders said speculators increased their holdings on hopes of rise in spot market demand against restricted arrivals of the commodity in the physical market.

     

They said increased enquiries from millers on hopes of some improvement in local demand gpt the festival season further supported the uptrend.