Chana futures extend fall, shed 1.31% on tepid demand

Chana prices fell by 1.31 per cent to Rs 4,131 per quintal in futures trade today, extending the fall for the second day, as participants cut bets amid subdued demand at the spot market against adequate stocks.

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

At the National Commodity and Derivatives Exchange, chana for delivery in September contract fell by Rs 55, or 1.31 per cent, to Rs 4,131 per quintal with an open interest of 76,870 lots.

Similarly, the commodity for delivery in October contracts drifted lower by Rs 53, or 1.24 per cent, to Rs 4,221 per quintal. The open interest of the contract stood at 18,840 lots.

Market analysts attributed the persistent fall in chana futures to offloading of positions by traders owing to subdued demand in the physical market against ample stocks position.