Chana down 1.16% on profit-booking

Thin supplies limit the downslide

Chana prices declined by 1.16% to Rs 4,674 per quintal in futures trade today as speculators booked profits after recent gains amid the fall in spot demand at prevailing higher levels.

At the National Commodity and Derivatives Exchange, chana for delivery in August traded at Rs 55, or 1.16%, lower at Rs 4,674 per quintal, with an open interest of 88,830 lots.

The contract had lost 1.87% in yesterday's trade.

September chana shed Rs 49, or 1.02%, to Rs 4,766 per quintal in 43,130 lots.

Marketmen said the fall in chana prices was due to profit-booking by speculators and a subdued trend at spot markets after demand fell at prevailing higher levels. Thin supplies, however, limited the downslide.