Chana futures gain 0.76% on good spot demand

Chana prices went up by 0.76 per cent to Rs 2,795 per quintal in futures trade today on the back of rising demand in the spot market.

However, expectations of bumper output due to heavy rainfall in growing areas, limited the gains.

At the National Commodity and Derivatives Exchange, chana for delivery in October moved up by Rs 21, or 0.76 per cent, to Rs 2,795 per quintal with an open interest of 1,10,990 lots.

Similarly, the commodity for delivery in November traded higher by Rs 17, or 0.59 per cent, to Rs 2,886 per quintal in 91,730 lots.

Analysts said fresh positions built-up by speculators on the back of rising demand in the spot market amid festive season demand led to rise in chana prices at futures trade.