Chana futures extend gains, up 0.34% on rising demand

Rising for the second straight day, chana prices edged higher by 0.34 per cent to Rs 4,732 per quintal in futures trade today as participants increased their exposure, tracking a firm trend at spot market on rising demand.

At National Commodity and Derivatives Exchange, chana for delivery in far-month January 2016 rose Rs 16, or 0.34 per cent to Rs 4,732 per quintal with an open interest of 27,180 lots.

In a similar fashion, the commodity for delivery in December contracts edged up by Rs 7, or 0.14 per cent to Rs 5,018 per quintal in 50,280 lots.

Analysts said apart from a firm trend at spot market on rising rising demand against restricted supplies from growing regions mainly kept chana prices higher at futures trade.