Chana gains by 0.4% on pick-up in demand

Chana prices gained 0.44% to Rs 3,451 per quintal in futures trading today as speculators indulged in creating fresh positions amid pick-up in demand in spot market against tight supplies.

At the National Commodity and Derivatives Exchange, chana for delivery in February rose by Rs 15, or 0.44%, to Rs 3,451 per quintal with an open interest of 1,22,080 lots.

Likewise, the commodity for delivery in April moved up by Rs 14, or 0.40%, to Rs 3,547 per quintal in 1,17,590 lots.

Analysts said pick-up in demand in spot market against tight stocks position on restricted supplies from producing belts led to the rise in chana prices at futures trade.