Chana futures up on rising spot demand

Chana prices rose by Rs 7 to Rs 3,100 per quintal in futures trade today, as speculators created fresh positions, triggered by a pick-up in demand in the spot market.

However, reports of higher acreage in the current winter sowing season restricted the gains.

At the National Commodity and derivative Exchange, December chana rose by Rs 7, or 0.23%, to Rs 3,100 per quintal, with an open interest of 76,480 lots.

The January delivery gained Rs 6, or 0.19%, to Rs 3,207 per quintal, with a trade volume of 143,130 lots.

Market analysts said speculators created fresh positions on the back of firming trend at spot market on pick-up in demand, mainly led to rise in chana prices at futures trade.