 "Ample stocks drag down chana prices by 0.7%")
Chana prices drifted 0.75% to Rs 5,030 per quintal in futures trade today as traders cut down their bets amid higher supplies at the spot market against muted demand.
At the National Commodity and Derivatives Exchange, chana for delivery in December fell by Rs 38, or 0.75%, to Rs 5,030 per quintal, with an open interest of 31,710 lots.
Likewise, the commodity for delivery in far-month January 2016 was trading lower by Rs 17, or 0.35%, to Rs 4,801 per quintal in 25.910 lots.
Analysts attributed the fall in chana prices at futures trade to higher supplies from producing belts in the physical market after the government measures to check rising prices amid sluggish demand.
At the National Commodity and Derivatives Exchange, chana for delivery in December fell by Rs 38, or 0.75%, to Rs 5,030 per quintal, with an open interest of 31,710 lots.
Likewise, the commodity for delivery in far-month January 2016 was trading lower by Rs 17, or 0.35%, to Rs 4,801 per quintal in 25.910 lots.
Analysts attributed the fall in chana prices at futures trade to higher supplies from producing belts in the physical market after the government measures to check rising prices amid sluggish demand.