Chana futures close 3.98 pc down on muted demand

Chana prices plunged by 3.98 per cent, or Rs 198, to close at Rs 4,773 per quintal in futures trade today as participants reduced exposure following subdued demand in the spot market amid adequate stocks.
Profit-booking at existing higher levels also weighed on the sentiment.
At the National Commodity and Derivatives Exchange, chana for delivery this month plunged by Rs 198, or 3.98 per cent lower, to close at Rs 4,773 per quintal, with an open interest of 5,280 lots.
Similarly, the commodity for delivery in December month fell Rs 123, or 2.57 per cent lower, to end at Rs 4,660 per quintal, with open interest of 33,820 lots.

Market analysts attributed the fall in chana futures to offloading of positions by traders, taking negative leads from physical markets due to muted demand against sufficient stocks position.