Rising demand lifts chana futures by 2.64% on December 29

Chana prices moved 2.64 per cent higher to Rs 4,081 per quintal in futures trade on Friday as participants raised bets on account of increased demand from dal mills in spot markets

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New Delhi: Chana prices moved 2.64 per cent higher to Rs 4,081 per quintal in futures trade on Friday as participants raised bets on account of increased demand from dal mills in spot markets. Besides, tight stocks position following a drop in arrivals from producing regions also fuelled the uptrend.

At the National Commodity and Derivatives Exchange, chana for delivery in January advanced Rs 105, or 2.64 per cent, to Rs 4,081 per quintal with an open interest of 34,090 lots. Similarly, the commodity for delivery in March edged Rs 53, or 1.39 per cent, higher to Rs 3,853 per quintal in 76,990 lots.

Analysts attributed the rise in prices to widening of positions by speculators, tracking a firm trend in the domestic spot markets.

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