Chana moves up in futures trade on spot demand

Chana prices rose by Rs 40 to Rs 3,390 per quintal in futures trade today as speculators enlarged their positions on expectations of a pick-up in demand in the spot market.

At the National Commodity and Derivatives Exchange, February chana rose by Rs 40, or 1.19%, to Rs 3,390 per quintal, with an open interest for 64,640 lots.

The January delivery moved up by Rs 12, or 0.35%, to Rs 3,455 per quintal in 123,290 lots.

Market analysts said increased buying by speculators on expectations of a pick-up in demand in the spot market mainly pushed up chana futures prices.