Chana futures hit upper limit, zoom 4 per cent on tight stocks

NEW DELHI: Extending rising streak for the fourth day, chana prices surged 4 per cent to hit upper circuit at Rs 9,115 per quintal in futures trade today as participants indulged in creating speculative positions, triggered by tight stock position in the market.

At the National Commodity and Derivatives Exchange, chana for delivery in July spurted by Rs 350 or 4 per cent to hit an upper limit at Rs 9,115 per quintal with an open interest of 1,720 lots.

The commodity for delivery in August spurted by Rs 313 or 3.69 per cent to Rs 8,800 per quintal in 1,970 lots.

Analysts said a firming trend at the spot markets as participants created speculative positions triggered by paucity of stocks amid pick up in demand, kept chana prices rising at futures trade here.