Chana futures surge 2.34% on rising demand

Chana prices were up by 2.34 per cent to Rs 5,164 per quintal in futures trade today as participants created fresh positions, taking positive cues from spot market on rising demand.
Besides, tight stocks position in the physical market on restricted supplies from producing regions supported the upside.
At National Commodity and Derivatives Exchange, chana for delivery in November shot up by Rs 118, or 2.34 per cent to Rs 5,164 per quintal with an open interest of 610 lots.
Similarly, the commodity for delivery in December traded higher by Rs 79, or 1.60 per cent to Rs 5,025 per quintal in 61,320 lots.

Analysts attributed the rise in chana prices to upsurge in demand in the spot market against restricted supplies from producing belts.