Chana futures extend gains, up 1.20%

Chana prices advanced by 1.20 per cent to Rs 4,875 per quintal in futures trading today as participants built positions in response to rising demand in the spot market against tight supplies.
Fresh enquiries from dal mills also fuelled the uptrend.
At the National Commodity and Derivatives Exchange, chana for delivery in January next year went up by Rs 58, or 1.20 per cent, to Rs 4,875 per quintal with an open interest of 23,570 lots.
In a similar fashion, the commodity for delivery in December contracts was trading higher by Rs 58, or 1.18 per cent, to Rs 4,978 per quintal in 27,510 lots.

Analysts said the raising of bets by traders, tracking a firm trend at the spot market on surge in demand against restricted supplies from producing regions, kept chana prices higher in futures trade.