Chana down 1.6% on profit-booking

Chana prices were down by 1.60 per cent to Rs 4,430 per quintal in futures trade today as speculators indulged in booking profits after recent gains amid low demand at the spot market.

However, lower output estimates capped the fall.

At the National Commodity and Derivative Exchange, chana for delivery in July was trading lower by Rs 72, or 1.60 per cent to Rs 4,430 per quintal with an open interest of 1,47,700 lots.

Likewise, the commodity for delivery in June contracts fell by Rs 61, or 1.36 per cent to Rs 4,421 per quintal in 1,410 lots.

Analysts said apart from profit-booking by speculators at existing levels, fall in demand at the spot markets, mainly pulled down chana prices in futures trade.

Outbrain