Profit-booking drags chana futures down 0.37%

Amid profit-booking by speculators at prevailing higher levels, chana prices declined 0.37 per cent to Rs 4,577 per quintal in futures trade today.

However, reports of lower output due to unseasonal rains in key producing areas limited the fall.

At National Commodity and Derivative Exchange, chana for delivery in June moved down Rs 17, or 0.37 per cent, to Rs 4,577 per quintal with an open interest of 1,04,660 lots.

Similarly, the commodity for delivery in May contracts eased Rs 11, or 0.25 per cent, to Rs 4,469 per quintal in 84,280 lots.

Analysts said besides profit-booking by speculators at existing levels, fall in demand in the spot market mainly kept pressure on chana prices in futures trade.