Chana futures fall 1.61% on profit-booking

Dec 03 2012, 14:38 IST
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SummaryChana prices fell by Rs 66 to Rs 4,028 per quintal in futures market.

Chana prices fell by Rs 66 to Rs 4,028 per quintal in futures market today as speculators booking profits driven by a weak demand in spot market. Expectations of higher cultivation this season also put pressure on the chana futures prices.

At the National Commodity and Derivative Exchange, chana for delivery in December fell by Rs 66, or 1.61 per cent to Rs 4,028 per quintal, with an open interest of 43,590 lots.

Similarly, the commodity for delivery in January lost Rs 58, or 1.43 per cent, to Rs 3,994 per quintal, with a trade volume of 87,890 lots.

Traders said besides profit-booking by speculators, subdued demand in the spot market at existing higher levels mainly led to the fall in chana prices at futures trade. They said expectations of a higher area under cultivation further fuelled the downtrend.

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