Chana futures rise 1.42 pc on strong demand, tight supply

Image
Press Trust of India New Delhi
Last Updated : Jun 30 2014 | 5:38 PM IST
Chana prices moved up by Rs 43 or 1.42 per cent to Rs 3,069 per quintal in futures trade today as speculators engaged in enlarging positions, tracking a firm trend at spot market.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month August rose by Rs 43, or 1.42 per cent to Rs 3,069 per quintal with an open interest of 87,050 lots.
In a similar fashion, the commodity for delivery in July contract gained Rs 37, or 1.29 per cent to Rs 2,911 per quintal in 1,24,270 lots.
Analysts said speculators enlarged positions on the back of strong demand in the spot market amid restricted arrivals from producing belts that led to an upward trend in chana prices at futures trade. PTI KPS SUN
Besides, tight stocks position in the physical markets on tight supplies from producing regions supported the upside.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 30 2014 | 5:38 PM IST

Next Story