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22-Mar2014

Chana futures trade higher on bargain buying

Chana futures traded higher on NCDEX due to bargain buying by the traders as the possibility of some crop damage in northern India coupled with fresh procurement by government agencies in major producing states. Further, expectations of lower output from the major producing belts following un-seasonal rains too supported chana prices uptrend.

The contract for April delivery was trading at Rs 3262.00, up by 0.40% or Rs 13.00 from its previous closing of Rs 3249.00. The open interest of the contract stood at 72760 lots.

The contract for May delivery was trading at Rs 3316.00, up by 0.33% or Rs 11.00 from its previous closing of Rs 3305.00. The open interest of the contract stood at 47760 lots on NCDEX.


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