Chana futures surge 1.58 pc on fall in supply, spot demand

Image
Press Trust of India New Delhi
Last Updated : Feb 18 2015 | 6:35 PM IST
Chana prices climbed 1.58 per cent to Rs 3,720 per quintal in futures trading today after speculators indulged in creating fresh positions amid fall in supplies.
Further, pick-up in demand in the spot market supported the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month April climbed by Rs 58, or 1.58 per cent to Rs 3,720 per quintal with an open interest of 1,53,000 lots.
Similarly, the commodity for delivery in February contracts gained Rs 14, or 0.39 per cent to Rs 3,580 per quintal in 1,18,030 lots.
Analysts said apart from pick-up in demand in spot market, fall in supplies from producing belts pushed up chana prices at futures trade.
*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: Feb 18 2015 | 6:35 PM IST

Next Story