Chana rises 1.1% on spot demand

Chana prices rose by Rs 40 to Rs 3,770 per quintal in futures trade today as traders created fresh positions due to rising spot market demand.

At the National Commodity and Derivatives Exchange, the May contract rose by Rs 40, or 1.07%, to Rs 3,770 per quintal, with an open interest of 1,00,870 lots.

The April contract gained Rs 34, or 0.91%, to Rs 3,643 per quintal, with an open interest of 43,950 lots.

Analysts said increased buying by speculators on good spot market demand mainly led to a rise in chana futures prices.