Chana rises by 2.6% on rising demand
Speculators enlarged their positions, tracking a firm trend at spot market on pick up in demand in the spot market
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Chana prices climbed 2.59% to Rs 3,770 per quintal in futures market today as speculators enlarged their positions, tracking a firm trend at spot market on pick up in demand in the spot market.
Expectations of lower output also supported the upside.
At the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in April month shot up by Rs 95, or 2.59% to Rs 3,770 per quintal with an open interest of 1,26,110 lots.
Similarly, the commodity for delivery in May contracts moved up by Rs 85, or 2.30% to Rs 3,781 per quintal in 99,300 lots.
Analysts said besides increased buying by speculators, driven by pick up in spot demand, lower output reports pushed up chana prices at futures trade.
Expectations of lower output also supported the upside.
At the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in April month shot up by Rs 95, or 2.59% to Rs 3,770 per quintal with an open interest of 1,26,110 lots.
Similarly, the commodity for delivery in May contracts moved up by Rs 85, or 2.30% to Rs 3,781 per quintal in 99,300 lots.
Analysts said besides increased buying by speculators, driven by pick up in spot demand, lower output reports pushed up chana prices at futures trade.
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First Published: Apr 06 2015 | 11:42 AM IST