Muted demand drags chana futures down by 1.28%

Chana prices were down by 1.28 per cent to close at Rs 6,311 per quintal in futures trade today as participants reduced their exposure amid subdued demand in the spot market against adequate stocks.
Moreover, profit-booking at existing higher levels also weighed on the sentiment.
At the National Commodity and Derivatives Exchange, chana for delivery in September eased by Rs 82, or 1.28 per cent, to close at Rs 6,311 per quintal, with an open interest of 24,300 lots.
Similarly, the commodity for delivery in October shed Rs 57, or 0.90 per cent, to end at Rs 6,262 per quintal, with an open interest of 28,570 lots.

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