Chana futures extend gains, climb 1.46% on firm demand

Continuing its rising streak for the second straight day, chana prices advanced by 1.46 per cent to Rs 5,078 per quintal in futures trade today as participants engaged in increasing their bets, taking positive cues from spot market on rising demand.
However, ample stocks in the physical market on upsurge in supplies following government measures to curb rising prices, restricted the gain.
At National Commodity and Derivatives Exchange, chana for delivery in December shot up by Rs 73 or 1,46 per cent to Rs 5,078 per quintal with an open interest of 37,510 lots.
In a similar fashion, the commodity for delivery in far-month January 2016 moved up by Rs 29 or 0.60 per cent to Rs 4,830 per quintal in 25,970 lots.

Analysts said building up of positions by traders on the back of rising demand in the spot market mainly kept chana prices higher at futures trade.