Chana futures surge 1.27% on strong demand

NEW DELHI: Chana prices surged by Rs 46 to Rs 3,654 per quintal in futures trade on Monday as speculators enlarged their positions, driven a strong demand in the spot market.

Tight supplies in the physical market following restricted arrivals from producing regions also influenced the chana prices.

At the National Commodity and Derivatives Exchange, chana for delivery in May surged by Rs 46, or 1.27 per cent, to Rs 3,654 per quintal, with an open interest of 13,610 lots.

Similarly, the commodity for delivery in April jumped up by Rs 45, or 1.26 per cent, to Rs 3,605 per quintal in 61,850 lots.

Traders said speculators enlarged their positions, tracking a firm trend at spot market on strong demand amid restricted arrivals from producing belts mainly pushed up chana futures.