Chana futures down 1.38 pc on tepid demand

Chana prices slipped 1.38 per cent at Rs 5,061 per quintal in futures trade today as participants reduced exposure following subdued demand in the spot market amid adequate stocks.

Profit-booking at existing higher levels also weighed on the sentiment.

At the National Commodity and Derivatives Exchange, chana for delivery in November declined by Rs 71, or 1.38 per cent, to Rs 5,061 per quintal, with an open interest of 37,210 lots.

Similarly, the commodity for delivery in December contract fell Rs 56, or 1.12 per cent, to Rs 4,940 per quintal, with open interest of 18,840 lots.

Market analysts attributed the fall in chana futures to offloading of positions by traders, taking negative leads from physical markets due to tepid demand against sufficient stocks position.

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