Chana futures hits upper circuit; spurt 4%

Extending its rising streak for yet another day, chana hit an upper circuit by surging 4 per cent at Rs 7,789 per quintal in futures trade today as participants, largely powered by strong demand at the spot markets against tight supplies from growing regions.
Meanwhile, SEBI had barred launch of any fresh contracts in 'chana' in the futures markets and also asked investors wind down their existing positions.
At the National Commodity and Derivatives Exchange, chana for delivery in August hit an upper circuit by soaring Rs 299, or 4 per cent at Rs 7,789 per quintal, having an open interest of 3,470 lots.

Also, the commodity for delivery in July increased by Rs 175, or 2.30 per cent, to Rs 7,800 per quintal in 5,330 lots.
Analysts said a firming trend at the spot markets on strong demand continued to influence chana prices at futures trade here.