Chana futures rise 3.24 pc on upsurge in spot demand

Chana prices climbed 3.24 per cent, or Rs 155, to close at Rs 4,935 per quintal in futures market today as participants enlarged positions following pick-up in demand in the spot market against tight supplies.
Fresh enquiries from dal mills also supported the upmove.
At the National Commodity and Derivatives Exchange, chana for delivery in January next year surged by Rs 155, or 3.24 per cent, to close at Rs 4,935 per quintal with an open interest of 26,310 lots.
Chana for delivery in December month also rose by Rs 152, or 3.10 per cent, to end at Rs 5,055 per quintal with an open interest of 23,910 lots.

Analysts said building up of positions by traders, driven by pick-up in demand in the physical market against tight stocks position due to fall in supplies from producing regions, mainly led to the rise in chana prices at futures trade.