Chana futures extend fall, down 2% on subdued demand

Chana prices drifted further down by 2 per cent to Rs 5,037 per quintal in futures trade today, extending fall for the second day, as participants indulged in reducing exposure amid subdued demand at the spot market against adequate stocks.

Moreover, profit-booking at existing levels weighed on the sentiment.

At the National Commodity and Derivatives Exchange, chana for delivery in November month dropped by Rs 103, or 2 per cent, to Rs 5,037 per quintal, with an open interest of 38,870 lots.

Similarly, the commodity for delivery in far-month December shed Rs 96, or 1.91 per cent, to Rs 4,906 per quintal in 18,610 lots.

Market analysts attributed persistent fall in chana futures to offloading of positions by traders owing to muted demand in physical market against ample stocks position.

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