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Chana futures extend losses on weak spot demand

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 10:58 PM IST

Chana futures prices fell by Rs 11 to Rs 2,940 per quintal today due to a weak trend in physical market, amid sluggish demand. Good monsoon progress reports have however been keeping the sentiments.  

Higher arrivals continued to put pressure on the market sentiments for Chana as demand failed to pick up even at these low levels. 

At the National Commodity and derivative Exchange, chana for September-month fell by Rs 11, or 0.37% to Rs 2,940 per quintal in a open interest of 50,660 lot, while August contract declined by Rs 10, or 0.35% to Rs 2,870 per quintal, open interest of 2,56,820 lots. 

Prices for July contract eased by Rs 9, or 0.32%, to Rs 2,791 per quintal, with an open interest of 1,07950 lots.

Traders said subdued demand in the spot market against adequate stock positions, mainly led to the fall in chana prices in futures trade.

They said higher arrivals continued to put pressure on the market sentiments for chana as demand failed to pick up in the mandis even at these low levels.

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First Published: Jul 08 2011 | 1:47 PM IST

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