Chana futures down 1.24% on muted demand

Chana prices dropped by 1.24 per cent to Rs 5,747 per quintal in futures trade today as speculators reduced exposure amid sluggish demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, chana for delivery in November fell by Rs 72, or 1.24 per cent to Rs 5,747 per quintal with an open interest of 28,190 lots.

On a similar lines, the commodity for delivery in October traded lower by Rs 66, or 1.14 per cent to Rs 5,732 per quintal in 26,680 lots.

Analysts said offloading of positions by traders on the back of easing demand in physical market against adequate stocks position, mainly led to decline in chana prices at futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)