Chana futures plunge on profit-booking

Amid profit-booking by speculators at prevailing levels and easing demand at spot market, chana prices were down 0.96 per cent to Rs 4,520 per quintal in futures market today.

At the National Commodity and Derivative Exchange, chana for delivery in July fell by Rs 44, or 0.96 per cent to Rs 4,520 per quintal with an open interest of 1,250 lots.

Similarly, the commodity for delivery in August contracts declined by Rs 22, or 0.48 per cent to Rs 4,596 per quintal in 1,52,270 lots.

Analysts said besides profit-booking by speculators at existing levels, fall in demand at the spot market against adequate stock position mainly led to the fall in chana prices at futures trade.