Chana futures down 3 pc on tepid demand

Chana prices slipped 3 per cent to Rs 3,991 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.
In futures trading at the National Commodity and Derivatives Exchange, chana for delivery in current month declined by Rs 123, or 3 per cent, to Rs 3,991 per quintal, with an open interest of 770 lots.
Similarly, the commodity for delivery in January contract fell Rs 62, or 1.52 per cent, to Rs 4,016 per quintal, with an open interest of 46,560 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.