Chana up by 0.5% on surging demand

Chana prices moved up 0.51% to Rs 4,973 per quintal in futures trade today as participants increased their holdings, triggered by rising demand at the spot market.

Besides, restricted supplies from producing regions supported the upside.

At National Commodity and Derivatives Exchange, chana for delivery in November advanced by Rs 25, or 0.51% to Rs 4,973 per quintal with an open interest of 3,060 lots.

Likewise, the commodity for delivery in December moved up by Rs 11, or 0.22% to Rs 5,085 per quintal in 56,540 lots.

Analysts said participants enlarged positions on the back of rising demand at the spot market against restricted supplies which kept chana prices higher in futures trade.