India chana seen rising on demand; guar on output

MUMBAI, Nov 19 (Reuters) - India's chana futures are likely to extend their winning streak into a fourth day on Thursday on improved spot demand, firm kharif pulses, and apprehension acreage may fall in a key producing state, analysts said.

The area under chana may shrink this year in Rajasthan due to poor rainfall and a diversion towards rapeseed, traders said.

Chana acreage in Rajasthan as on Nov. 10 stood at 403,000 hectares compared to 726,000 hectares during the same period a year ago.

The December chana contract NCHZ9 on the National Commodity Derivatives Exchange ended up 1.98 percent at 2,681 rupees per 100 kg in the previous session.

But, good stocks from last year's harvest may spark profit-taking later, analysts said.

GUAR:

Indian guar futures are seen extending gains on the back of a lower crop estimate and encouraging overseas enquiries, analysts said.

Poor monsoon has damaged nearly 70 percent of standing guar crop in Rajasthan, which accounts for four-fifth of the country's guar acreage. See [ID:nBOM490466]

The December guar contract NGUZ9 on the National Commodity Derivatives Exchange ended 1.04 percent higher at 2,717 rupees per 100 kg, after hitting a contract high of 2,723 in the previous session. (Reporting by Rajendra Jadhav & Meenakshi Sharma; Editing by Harish Nambiar)