Chana recovers marginally on firm spot demand

Chana prices recovered by Rs 9, or 0.42 per cent, to Rs 2,124 per quintal in futures trade today, as speculators enlarged their positions, supported by pick up in demand in the spot market.

Restricted arrivals in physical markets also influenced the chana prices at futures market.

At the Multi commodity Exchange counter, chana for delivery in October-month recovered by Rs nine, or 0.42 per cent, to Rs 2,124 per quintal, with a trading volume of three lots. 

The commodity for delivery in November month rose by Rs three, or 0.13 per cent, to Rs 2,189 per quintal, with an open interest of three lots, while September contract up by Rs two, or 0.09 per cent, to Rs 2.070 per quintal, with a trading volume of 28 lots. 

 

Market analysts said fresh positions created by speculators buoyed by pick up in demand in the spot market against limited arrivals mainly led to a recovery in chana prices at futures trade.