Wheat prices gained 1.63 per cent to Rs 1,748 per quintal in futures trade today as speculators built up fresh positions, taking positive cues from the spot market on uptick in demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in March shot up by Rs 28, or 1.63 per cent, to Rs 1,748 per quintal with an open interest of 6210 lots.
Analysts said fresh positions created by traders due to pick up in demand in the physical market amid a pause in arrivals led to rise in wheat prices in futures trade.
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