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Rising demand lifts chana futures 1.62 pc

Press Trust of India  |  New Delhi 

Chana prices went up by 1.62 per cent to close at Rs 4,950 per quintal in futures trade today as participants enlarged positions, driven by rising demand from dal mills at the spot market.

Besides, tight stocks position following drop in arrivals from producing regions too fuelled the uptrend.

At the National Commodity and Derivatives Exchange, chana for delivery in the current month advanced Rs 79, or 1.62 per cent, to close at Rs 4,950 per quintal with an open interest of 3,210 lots.

The commodity for delivery in December contract edged higher by Rs 67, or 1.38 per cent, to end at Rs 4,911 per quintal in 29,780 lots.

Analysts attributed the rise in chana prices to surging demand at spot market against restricted supplies from producing regions.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 14 2017. 18:28 IST