Chana futures extend gain, up 0.60% on rising demand

Chana prices rose further by 0.60 per cent to Rs 5,333 per quintal in futures market today as traders engaged in enlarging their positions, taking positive cues from spot market on surging demand.

Scattered enquiries from dal mills and restricted supplies from producing belts also fuelled the uptrend.

At the National Commodity and Derivatives Exchange, chana for delivery in November advanced by Rs 31, or 0.60 per cent to Rs 5,333 per quintal with an open interest of 37,090 lots.

Similarly, the commodity for delivery in October gained Rs 22, or 0.41 per cent to Rs 5,328 per quintal in 4,970 lots.
 

Analysts expanding of positions by participants due to pick up in demand in the physical market against restricted arrivals from producing regions, mainly kept chana prices higher at futures trade.