Chana futures up 0.97% on spot demand

NEW DELHI: Chana prices rose 0.97 per cent to Rs 4,874 per quintal in futures trade today as traders strengthened their position, tracking a firming trend at the spot markets on good demand.

At the National Commodity and Derivatives Exchange, chana for delivery in December was trading higher by Rs 47, or 0.97 per cent, to Rs 4,874 per quintal, with an open interest of 51,350 lots.

On similar lines, the commodity for delivery in November traded higher by Rs 43, or 0.91 per cent, to Rs 4,778 per quintal in 26,250 lots.

Analysts attributed the rise in chana prices to widening of positions by speculators amid surging demand in the spot markets against restricted supplies from producing belts.