Chana futures up 1.61 pct, cuts in special margin

NEW DELHI: Chana prices rose by Rs 66 to Rs 4,165 per quintal in futures trade today as speculators enlarged their positions on rising demand in the spot market against restricted supply.

Speculators also increased buying as NCDE authorities cut special margin on long side in chana to 20 from 30 per cent, and removed the additional margin of 5 per cent on long and short positions.

At the National Commodity Derivatives Exchange, chana for the July contract rose by Rs 66, or 1.66 per cent, to Rs 4,165 per quintal with an open interest of 1,03,480 lots.

Similarly, the commodity for delivery in the June contract gained Rs 47, or 1.15 per cent to Rs 4,110 per quintal with open interest of 12,990 lots.

Analysts said increased buying by speculators on good demand in the spot market and cut in special margins in f futures trade led to rise in chana futures prices.

They said, restricted arrivals in the physical market also influenced the chana prices at futures trade.