Chana futures extend losses; slide 1.43% on low demand

Chana prices drifted further down by 1.43 per cent to Rs 5,980 per quintal in futures trading today as participants engaged in reducing their holdings, tracking a weak trend at spot market on muted demand against adequate stocks position.
At the National Commodity and Derivatives Exchange, chana for delivery in October fell by Rs 87, or 1.43 per cent to Rs 5,980 per quintal with an open interest of 30,090 lots.
On similar lines, the commodity for delivery in September contracts lost Rs 51, or 0.84 per cent to Rs 5,985 per quintal in 8,630 lots.
Marketmen said offloading of positions by participants on the back of tepid demand in the physical market against sufficient stocks position mainly kept pressure on chana prices at futures trade.