Chana rises on bargain buying

Chana prices rose by Rs 13, or 0.62 per cent, to Rs 2,108 per quintal in futures trade today due to bargain-buying and pick-up in demand in the ongoing festival season.

Fall in supplies from producing regions of Rajasthan and Gujarat further supported the uptrend in futures trade. 

At the Multi Commodity Exchange platform, chana for October-month contract rose Rs 13, or 0.62 per cent, to Rs 2,108 per quintal, with a business volume of one lot while November-month delivery surged by Rs 11, or 0.51 per cent, to Rs 2,173 per quintal, with an open interest of 10 lots.

 

Traders said speculators increasing their positions on hopes of a rise in demand in the spot market due to ongoing festival season.