Chana futures gain 0.18% on rising demand

Chana prices rose by 0.18 per cent to Rs 3,996 per quintal in futures trade as participants created fresh positions, driven by rising demand from dal mills at the spot markets.

Besides, tight stocks positions following a drop in arrivals from producing regions also contributed to the rise in chana prices.

At the National Commodity and Derivatives Exchange, chana for delivery this month was trading higher by Rs 7, or 0.18 per cent, to Rs 3,996 per quintal.

Likewise, the commodity for delivery in December gained Rs 6, or 0.99 per cent, to Rs 4,020 per quintal.

Analysts attributed the rise in chana prices to surging demand in the spot markets against restricted supplies from the producing regions.