Chana rebounds 0.35% as demand picks up

Traders create fresh positions on firm trends in spot market

Chana prices recovered by 0.35 per cent to Rs 2,908 per quintal in futures trading today mostly in tune with a firming trend in the spot markets on rising demand.

At the National Commodity and Derivatives Exchange, chana for delivery in June rose by Rs 10, or 0.35 per cent, to Rs 2,908 per quintal with an open interest of 1,43,200 lots.

The July contract traded higher by Rs 10, or 0.34 per cent, to Rs 2,975 per quintal in 67,760 lots.

Analysts said fresh positions built-up by speculators following pick-up in demand in the spot market mainly pushed up chana prices at futures trade.