Chana futures hit lower circuit, plunge 4%

Chana prices fell by 4 per cent to hit the lower circuit at Rs 3,754 per quintal in futures trade today as participants booked profits at prevailing levels amid easing demand in the spot markets.

Moreover, reports of higher production forecast of kharif pulses amid scattered buying by millers in local wholesale market also exerted pressure on chana prices.

Analysts said besides profit-booking by participants at existing level, higher output forecast and decline in demand in the physical market exerted pressure on chana futures.

At the National Commodity and Derivatives Exchange, chana for September fell by Rs 156, or 3.98 per cent, to Rs 3,754 per quintal with an open interest of 60,850 lots.

Similarly, Chana to be delivered in October declined by Rs 139, or 3.46 per cent, to Rs 3,880 per quintal in 35,200 lots.