Chana weakens 0.83% on profit-booking

Sluggish demand influences prices

Chana prices moved down by Rs 36 to Rs 4,310 per quintal in futures trading today as speculators indulged in profit-taking at existing higher levels amid subdued demand in the spot market.

At the National Commodity and Derivatives Exchange, chana for delivery in November fell by Rs 36, or 0.83%, to Rs 4,310 per quintal, with an open interest of 70,390 lots.

October chana lost Rs 27, or 0.60%, to Rs 4,510 per quintal in 63,470 lots.

Marketmen said besides profit-booking by speculators at prevailing higher levels, sluggish demand in the spot market put pressure on chana prices at futures trade.