Chana falls on profit-booking

Chana prices fell by Rs 75 to Rs 2,977 per quintal in futures trade today as speculators booked profits, driven by a weak spot market trend on sluggish demand.

At the Multi Commodity Exchange, chana for delivery in August fell by Rs 75, or 2.53%, to Rs 2,977 per quintal, with an open interest of 116,090 lots.

The September contract lost Rs 74, or 2.43%, to Rs 3,054 per quintal, with an open interest of 44,770 lots.

Traders said besides profit-booking by speculators, sluggish spot markets demand led to the fall in chana futures prices.