Chana futures gain 0.19% on spot demand

Chana edged up by 0.19 per cent to Rs 3,618 per quintal in futures trade today as speculators created fresh positions on improved demand in the spot market.
Besides, expectations of lower output fuelled the upside.
At the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in April moved up by Rs 7, or 0.19 per cent, to Rs 3,618 per quintal with an open interest of 1,36,550 lots.
Similarly, the commodity for delivery in May traded higher by a similar margin to Rs 3,641 per quintal in 1,06,030 lots.
Analysts said apart from a firm trend at spot market on pick up in demand, lower output reports helped chana prices to trade higher at futures trade.