Chana moves down by 0.84% in futures trade on tepid demand

Chana prices drifted down by 0.84 per cent to Rs 5,565 per quintal in futures trading today as speculators reduced exposure amid muted demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, chana for delivery in November fell by Rs 47, or 0.84 per cent to Rs 5,565 per quintal with an open interest of 26,250 lots.

Likewise, the commodity for delivery in declined by Rs 43, or 0.77 per cent to Rs 5,556 per quintal in 17,480 lots.

Analysts said reducing of positions by traders owing to slackened demand in the spot market against sufficient stocks position on increased supplies from growing regions, mainly attributed the fall in chana prices at futures trade.

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