Chana futures extend gains, up 0.84% on tight supply

Extending gains for the second straight day, chana prices advanced 0.84 per cent to Rs 5,146 per quintal in futures trading today as traders enlarged positions, triggered by tight supplies on restricted arrivals from producing regions at spot market.
Besides, rising demand supported the upside in chana prices.
At National Commodity and Derivatives Exchange, chana for delivery in December month rose by Rs 43, or 0.84 per cent to Rs 5,146 per quintal with an open interest of 64,400 lots.
In a similar fashion, the commodity for delivery in January contracts gained Rs 19, or 0.39 per cent to Rs 4,840 per quintal in 22,800 lots.

Analysts said besides tight supplies on limited arrivals from producing regions in the spot market amid surging demand mainly kept chana prices higher at futures trade.