Chana up 1% on better spot demand

Chana prices rose by Rs 39 to Rs 3,721 per quintal in futures trade today as speculators enlarged their positions on good demand in the spot market.

Restricted arrivals in the physical market also influenced the chana prices at futures trade.

At the National Commodity Derivatives Exchange, the April contract rose by Rs 39, or 1.06%, to Rs 3,721 per quintal, with an open interest of 99,030 lots.

May chana gained Rs 39, or 1.03%, to Rs 3,816 per quintal, with an open interest of 172,260 lots.

Chana for delivery in March gained Rs 7, or 0.20%, to Rs 3,588 per quintal, with an open interest of 36,290 lots.

Analysts said increased buying by speculators, driven by a higher demand in the spot market, mainly led to a rise in chana futures prices.