Spot demand lifts chana futures over 1%

NEW DELHI, Sept 24: Supported by rising spot demand and restricted supplies from producing belts, chana prices moved up by 1.05 per cent to Rs 4,622 per quintal in futures trade today as traders enlarged positions.

At the National Commodity and Derivatives Exchange, chana for delivery in far-month November rose Rs 48, or 1.05 per cent, to Rs 4,622 per quintal with an open interest of 66,260 lots.

Similarly, the commodity for delivery in October contracts traded higher by Rs 42, or 0.93 per cent, to Rs 4,550 per quintal in 64,950 lots.

Analysts attributed the rise in chana prices to increased positions created by speculators amid surging demand in the spot market against restricted supplies from producing belts. (PTI)

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