Chana surges 2.61% on good spot demand

Chana futures prices surged by Rs 93 to Rs 3,654 per quintal today, as speculators enlarged their positions, tracking a firming trend at spot market on good demand in view of marriage season.

Estimates of fall in output also supported the upswing in chana futures.

At the National Commodity Derivatives Exchange, the April contract for chana surged by Rs 93, or 2.61%, to Rs 3,654 per quintal, with an open interest of 83,290 lots.

The March contract shot up by Rs 75, or 2.05%, to Rs 3,734 per quintal in 71,850 lots.

Analysts said increased buying by speculators on the back of a firming trend at spot market on good spot market demand in view of marriage season also kept chana prices remain firm for the second straight day.