Chana futures extend fall, drop 0.88% on muted demand

Chana prices drifted lower by 0.88 per cent to Rs 3,600 per quintal in futures trade today, extending its fall for the second day, as participants reduced exposure amid subdued demand in the spot market against adequate stocks.

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

At the National Commodity and Derivatives Exchange, chana for delivery in June contracts dropped by Rs 32, or 0.88 per cent, to Rs 3,600 per quintal, with an open interest of 27,370 lots.

Similarly, the commodity for delivery in May contract shed Rs 30, or 0.83 per cent, to Rs 3,565 per quintal. The open interest of the contract stood at 99,470 lots