Chana futures up 1.13% on good demand

NEW DELHI: Chana prices rose by Rs 51 to Rs 4,561 per quintal in futures trade today as speculators enlarged holdings following rising demand in the market due to the festive season.

Restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.

At the National Commodity and Derivatives Exchange, chana for December delivery rose by Rs 51, or 1.13 per cent, to Rs 4,561 per quintal, with an open interest for 59,050 lots.

Similarly, chana for delivery in November increased by Rs 48, or 1.03 per cent, to Rs 4,709 per quintal, with an open interest for 89,640 lots.

Traders said speculators increased their holdings on rising demand in spot market demand due to festive season, which mainly pushed up chana prices.

They said enquiries by millers at lower levels amid fall in supply from the producing regions of Rajasthan and Gujarat further supported the uptrend in futures trade.