Chana futures rise 0.41% on high demand

Chana gained 0.41 per cent to Rs 3,703 per quintal in futures trade today as speculators enlarged positions amid rising domestic demand.

Besides, expectations of lower output supported the upside.

At the National Commodity and Derivatives Exchange (NCDE), chana for delivery in May rose by Rs 15, or 0.41 per cent to Rs 3,703 per quintal with an open interest of 1,05,400 lots.

Likewise, the commodity for delivery in April gained Rs 14, or 0.38 per cent to Rs 3,714 per quintal in 1,78,890 lots.

Analysts said besides rising demand in the spot market, lower output reports led to the rise in chana prices at futures trade.