Chana remains firm on firm spot demand

Chana prices rose for the second straight day by adding Rs 7 to Rs 2,176 per quintal in futures trade today, as speculators enlarged their positions on pick up in festive demand in spot markets.

At the Multi Commodity Exchange, chana for October-month rose by Rs 7 or 0.32 per cent, to Rs 2,176 per quintal, with an open interest of one lot.

The commodity for delivery in November-month also traded marginally higher by Rs 2, or 0.09 per cent, to Rs 2,257 per quintal, with an open interest of single lot.

Marketmen said rising festive demand amid decline in arrivals led to a rise in chana prices at futures trade.