Commodities

Chana futures trade higher

PTI New Delhi | Updated on May 12, 2011 Published on May 12, 2011

Traders said increasing of positions by speculators on hopes of a rise in the spot market demand mainly pushed up chana prices in futures trade.

Chana prices moved up for the third straight day by adding Rs 8 to Rs 2,340 a quintal in futures trade today as speculators enlarged their positions on expectations of a rise in demand in the domestic market.

Restricted arrivals from producing region of Rajasthan and Madhya Pradesh further supported the uptrend in futures trade.

At the National Commodity and Derivatives Exchange, chana for delivery in May rose by Rs 5 or 0.34 per cent to Rs 2,340 a quintal, with an open interest of 85,540 lots.

The chana for June delivery gained Rs 7 or 0.29 per cent to Rs 2,418 a quintal with a trade volume of 1,42,950 lots.

Likewise, its prices for delivery in July moved up by Rs 6 or 0.24 per cent to Rs 2,485 a quintal with a business turnover of 74,280 lots.

Traders said increasing of positions by speculators on hopes of a rise in the spot market demand mainly pushed up chana prices in futures trade.

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Published on May 12, 2011
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