Chana futures take gains forward, climb 2.26% on spot demand

Chana prices rose further by 2.26 per cent to Rs 8,320 per quintal in futures trade today as traders enlarged positions, driven by strong demand in the spot market amid tight stocks position on restricted supplies from producing regions.

At the National Commodity and Derivatives Exchange, chana for delivery in July month advanced by Rs 184, or 2.26 per cent to Rs 8,320 per quintal with an open interest of 2,200 lots.

Analysts attributed persistent rise in chana prices at futures trade to widening of positions by speculators, tracking a firm trend at the domestic spot markets on strong demand.