Chana moves up in futures trade

Chana for delivery in November rose by Rs 25,or 0.52 per cent,to Rs 4,860 per quintal

Written by Agencies | New Delhi | Published: August 29, 2012 4:30:43 pm

Chana prices gained Rs 25 to Rs 4,860 per quintal in futures trade today as speculators created fresh positions,tracking a firm spot market trend.

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 delivery in November rose by Rs 25,or 0.52 per cent,to Rs 4,860 per quintal,with an open interest of 9,910 lots.

Similarly,the commodity for delivery in September moved up by Rs 15,or 0.32 per cent,to Rs 4,665 per quintal,with an open interest of 61,550 lots.

Marketmen said fresh buying by speculators on the back of a rise in spot market demand and lower estimated output mainly pushed up chana prices at futures market.

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