Chana futures slip 2.14% on profit-booking

Chana prices moved down by 2.14 per cent to Rs 4,285 per quintal in futures trade today as investors booked profits at prevailing levels amid easing demand in the spot market.

At the National Commodity and Derivatives Exchange, chana for delivery in August contracts fell by Rs 94, or 2.14 per cent, to Rs 4,285 per quintal with an open interest of 70,580 lots.

Similarly, the commodity for delivery in far-month September declined by Rs 91, or 2.06 per cent, to Rs 4,317 per quintal in 30,840 lots.

Analysts said besides profit-booking by participants at existing levels, a decline in demand in the physical market against sufficient stocks position attributed to the fall in chana futures.

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