Chana futures down 0.60% on muted demand

Chana prices drifted lower by 0.60 per cent to Rs 4,290 per quintal in futures trade today as participants reduced exposures, driven by a fall in demand at the spot market.
Besides, adequate stocks in the physical market on increased supplies from producing regions fuelled the downtrend.
At the National Commodity and Derivative Exchange, chana for delivery in far-month May fell by Rs 26, or 0.60 per cent, to Rs 4,290 per quintal with an open interest of 6,860 lots.
On similar lines, the commodity for delivery in April contracts lost Rs 16, or 0.38 per cent, to Rs 4,239 per quintal in 26,770 lots.

Analysts attributed the slide in chana futures to low demand in the spot market against adequate stocks on higher supplies from producing regions.