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Chana futures fall 1.29% on tepid demand

Business Finance

Press Trust of India  |  New Delhi 

Chana prices slipped 1.29 per cent to Rs 4,060 per quintal in futures trade today as participants reduced exposure following subdued demand in the spot market.

Profit-booking at existing higher levels also weighed on the sentiment.

At the National Commodity and Derivatives Exchange, chana for delivery in the current month declined Rs 53, or 1.29 per cent, to Rs 4,060 per quintal, with an open interest of 1,990 lots.

The commodity for delivery in February fell Rs 25, or 0.66 per cent, to Rs 3,764 per quintal, with open interest of 85,750 lots.

Analysts attributed the fall in chana futures to offloading of positions by traders, taking negative leads from physical markets due to tepid demand against sufficient stock positions.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, January 18 2018. 11:15 IST