Hot Commodities: Strong Spurt In Chana Futures On Expiry Day

NCDEX Chana futures witnessed a sharp surge today on the expiry of the near month April series. NCDEX May futures, the benchmark contract, rose on a combination of bargain buying and rollover from the near month series. The May futures had fell to a one month low in last session, approaching Rs 3600 per quintal level before edging up. The counter soared today with the midday trade pushing it towards Rs 3600 per quintal. The contract currently trades at Rs 3682 per quintal, up 1.18% on the day. The government procurement is supporting spot markets while a slight drop in arrivals in Delhi is also keeping the sentiments positive. Chana arrivals in Delhi were 30 trucks today as compared to around 40 trucks over last two weeks.