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15-Apr2011

Chana Futures Trade Higher On Friday

Chana futures are trading higher on the back of fresh buying which has appeared at the lower levels. Higher arrivals had kept sentiments down for the commodity in the last week and the traders waited for further fall in rates before initiating buying. As per 3rd Advance Crop Estimates, Pulses production is estimated highest ever at 17.29 Million Tonnes, which may pressurize rates in medium term.

The contract for April delivery was trading at Rs 2,319.00, up by 0.48% or Rs 11.00 from its previous closing of Rs 2,308.00. The open interest of the contract stood at 61,330 lots.

The contract for May delivery was trading at Rs 2,398.00, down by 0.50% or Rs 12.00 from its previous closing of Rs 2,386.00. The open interest of the contract stood at 11,7570 lots on NCDEX.

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