Chana futures close 3.90 pc down on tepid demand

Chana prices slipped 3.90 per cent, or Rs 191 down to close at Rs 4,710 per quintal in futures trade today as participants reduced exposure following subdued demand in the spot market amid adequate stocks.
Profit-booking at existing higher levels also weighed on the sentiment.
At the National Commodity and Derivatives Exchange, chana for delivery in December declined by Rs 191, or 3.90 per cent lower, to close at Rs 4,710 per quintal, with an open interest of 28,840 lots.
Similarly, the commodity for delivery in current month fell Rs 147, or 2.92 per cent lower, to end at Rs 4,889 per quintal, with open interest of 19,850 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.