Chana sheds on sluggish demand

Profit-booking by speculators and sluggish demand in the spot market mainly pulled down chana prices

Chana prices declined by Rs 26 to Rs 4,300 per quintal in futures trade today as speculators booked profits, driven by sluggish demand in spot market.

At the NCDEX, the June delivery declined by Rs 26, or 0.60%, to Rs 4,300 per quintal with an open interest of 1,06,180 lots.

The May contract shed Rs 18, or 0.42%, to Rs 4,226 per quintal in 7,710 lots.

Market analysts said besides profit-booking by speculators, sluggish demand in the spot market mainly pulled down chana prices to trade lower at futures market.