Chana futures rise 0.32 per cent on spot demand

NEW DELHI: Chana prices edged higher by 0.32 per cent to Rs 2,816 per quintal in futures trade today as speculators indulged in creating fresh positions supported by rising demand in the spot market.

However, expectations of bumper output due to heavy rainfall in the growing areas, restricted the upside.

At the National Commodity and Derivatives Exchange, chana for delivery in September moved up by Rs 9, or 0.32 per cent to Rs 2,816 per quintal with an open interest of 960 lots.

Likewise, the commodity for delivery in October gained Rs 5, or 0.18 per cent to Rs 2,852 per quintal in 1,27,560 lots.

Analysts said fresh positions built-up by speculators following pick up in demand in the spot market ahead of festive season mainly led to the rise in chana prices at futures trade.