Muted demand drags chana futures down by 3.38%

Chana prices were down by 3.38 per cent to Rs 5,986 per quintal in futures trade today as participants reduced their exposure amid subdued demand in the spot market against adequate stocks.

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

At the National Commodity and Derivatives Exchange, chana for delivery in October contract eased by Rs 210, or 3.38 per cent, to Rs 5,986 per quintal, with an open interest of 31,630 lots.

Similarly, the commodity for delivery in current month shed Rs 185, or 2.99 per cent, to Rs 5,995 per quintal in 11,390 lots.

Market analysts attributed the fall in chana futures to offloading of positions by traders, taking negative leads from physical markets due to tepid demand against sufficient stocks position.

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