Chana up 0.5% as demand picks up
Analysts said speculators created fresh positions on pick up in demand in the spot market mainly led to rise in chana prices at futures trade
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Chana prices rose by Rs 17 to Rs 3,249 per quintal in futures trade today as speculators created fresh positions, supported by pick up in demand in the spot market.
However, expectations of higher output this season on favourable weather for sowing limited the gains.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month January rose by Rs 17, or 0.53% to Rs 3,249 per quintal with an open interest of 47,920 lots.
Similarly, the commodity for delivery in December gained Rs 16, or 0.51% to Rs 3,152 per quintal in 88850 lots.
Analysts said speculators created fresh positions on pick up in demand in the spot market mainly led to rise in chana prices at futures trade.
However, expectations of higher output this season on favourable weather for sowing limited the gains.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month January rose by Rs 17, or 0.53% to Rs 3,249 per quintal with an open interest of 47,920 lots.
Similarly, the commodity for delivery in December gained Rs 16, or 0.51% to Rs 3,152 per quintal in 88850 lots.
Analysts said speculators created fresh positions on pick up in demand in the spot market mainly led to rise in chana prices at futures trade.
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First Published: Nov 21 2013 | 1:16 PM IST