Chana up 0.9% on high buying activity
Commodity prices for delivery in December higher by 0.8%
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Chana prices rose by Rs 31 to Rs 3,165 per quintal in futures trade today as traders enlarged their holdings on account of the good demand in the market due to ongoing marriage seasion.
However, sufficient stocks and favourable weather for sowing and adequate soil moisture restricted the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in January rose by Rs 31, or 0.99%, to Rs 3,165 per quintal, with an open interest of 58,260 lots.
Similarly, chana prices for delivery in December higher by Rs 25, or 0.82%, to Rs 3,066 per quintal, with an open interest of 79,510 lots.
Traders said fresh enquiries from millers at lower levels is supporting the upside in prices, but it is unlikely to sustain the uptrend because sowing is progressing well in the leading cultivating states.
However, sufficient stocks and favourable weather for sowing and adequate soil moisture restricted the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in January rose by Rs 31, or 0.99%, to Rs 3,165 per quintal, with an open interest of 58,260 lots.
Similarly, chana prices for delivery in December higher by Rs 25, or 0.82%, to Rs 3,066 per quintal, with an open interest of 79,510 lots.
Traders said fresh enquiries from millers at lower levels is supporting the upside in prices, but it is unlikely to sustain the uptrend because sowing is progressing well in the leading cultivating states.
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First Published: Nov 29 2013 | 1:38 PM IST