Chana falls 1.4% on profit-booking

Profit-booking by speculators and a decision to cut the expiry period by the exchange to check volatility mainly led to a fall in chana prices at futures trade

Chana prices fell by Rs 56 to Rs 3,998 per quintal in futures trade today as speculators booked profits amid at existing higher levels.

However, expectations of a fall in output this season capped the losses.

At the National Commodity and Derivatives Exchange, the May contract fell by Rs 56, or 1.38%, to Rs 3,998 per quintal, with an open interest of 84,170 lots.

The June contract lost Rs 52, or 1.25%, to Rs 4,106 per quintal, with an open interest of 64,500 lots.

Market analysts said profit-booking by speculators and decision to cut the expiry period of commodity to 4 months from 7 months by the exchange to check volatility mainly led to a fall in chana prices at futures trade.