Muted demand drags down chana futures by 0.44%

Chana prices softened by 0.44 per cent to Rs 5,721 per quintal in futures trade today as speculators reduced exposure amid low demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, chana for delivery in November month fell by Rs 25, or 0.44 per cent to Rs 5,721 per quintal with an open interest of 27,600 lots.

Likewise, the commodity for delivery in October contracts shed Rs 12, or 0.21 per cent to Rs 5,722 per quintal in 19,550 lots.

Analysts said offloading of positions by traders owing to slackened demand in physical market against adequate stocks position, mainly influenced chana prices at futures trade.

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