Chana remains up on strong demand

December contract gains 0.43%

Chana prices maintained their upward march for the third straight day and gained Rs 18 to Rs 4,175 per quintal in futures trade today as traders enlarged their positions following upsurge in demand in the spot market.

However, hopes of higher output this year limited the gain.

At the National Commodity and Derivatives Exchange, chana for delivery in December month gained Rs 18, or 0.43%, to Rs 4,175 per quintal, with an open interest of 3,800 lots.

January contract edged up by Rs 9, or 0.22% to Rs 4,029 per quintal in 82,240 lots.

Traders said speculators enlarged their positions following upsurge in demand in the spot market and kept chana futures remain higher for third day.