Chana futures up 0.31 pc on rise in demand

NEW DELHI: Chana prices rose by Rs 13 to Rs 4,150 per quintal in futures trade today as speculators enlarged their positions, driven by pick up in demand in the spot market.

Slow sowing due to a delayed harvesting of summer-sown crops in some states supported the buying.

At the National Commodity and Derivatives Exchange, chana for delivery in January rose by Rs 13, or 0.31 per cent, to Rs 4,150 per quintal, with an open interest of 79,000 lots.

Similarly, the commodity for delivery in December edged up by Re 1, or 0.02 per cent, to Rs 4,275 per quintal in a trade volume of 62,720 lots.

Market analysts said increased buying by speculators, driven by pick-up in demand in the spot market mainly led to rise in chana futures.