Chana futures traded on a positive note during yesterday’s session on account of lower level buying. The active February Chana futures traded in a range of 2122 to 2160 levels and ended the session at 2143 levels with a positive change of 0.94 per cent
Outlook:
Chana fututres are expected to trade on a positive note on account of fresh demand in the physical market at present levels
Demand is picking up in the physical market as the prices have declined considerably during last couple of days and traders are showing buying interest at present levels
Arrivals are rising steadily in major markets like Delhi, Indore, Nagpur, latur and Gulbarga
The arrivals in the Lawrence road market at Delhi are hovering around 40 to 42 trucks, compared to 35 trucks during last week
The spot prices at major markets in Delhi are hovering around rupees at Rs 2173 per quintal
The prices in the spot market trade on a steady note as the pulses enquiry in the market prevented the downside
India's Chana acreage as on Feb. 26 stood at 8.92 million hectares, compared with 8.34 million hectares in the same period a year ago, according to latest data from farm ministry
Courtesy: Karvy Commtrade Ltd.
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