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Chana futures down on decline in spot demand

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Press Trust of India New Delhi

Chana prices fell by Rs 14 to Rs 2,177 per quintal in futures market today as speculators indulged in reducing their positions after fall in spot market demand.

Increased arrivals in the physical market also weighed on the chana prices.

At the Multi Commodity Exchange, chana for Aug month fell by Rs 14, or 0.64 per cent, to Rs 2,177 per quintal with an open interest of 1,307 lots.

The commodity for delivery in September month also declined by Rs 11, or 0.49 per cent, to Rs 2,222 per quintal with a business turnover of 490 lots.

Analysts said adequate stocks position following increased arrivals against decline in  spot market demand pulled down chana prices in futures trade. 

 

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First Published: Aug 05 2010 | 12:30 PM IST

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