Chana futures extend fall, shed 2.97% on tepid demand
Chana prices fell by 2.97 per cent to Rs 4,051 per quintal in futures trade today, extending the fall for the second day, as participants cut bets amid subdued demand at the spot market against adequate stocks.
Moreover, profit-booking at existing higher levels too weighed on the sentiment.
At the National Commodity and Derivatives Exchange, chana for delivery in August contracts fell by Rs 124, or 2.97 per cent, to Rs 4,051 per quintal with an open interest of 64,000 lots.
Similarly, the commodity for delivery in September contract drifted lower by Rs 104, or 2.48 per cent, to Rs 4,083 per quintal. The open interest of the contract stood at 51,000 lots.
Market analysts attributed the persistent fall in chana futures to offloading of positions by traders owing to subdued demand in the physical market against ample stocks position.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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