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Chana futures slip on profit booking

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Press Trust of India New Delhi

Chana prices slipped by Rs 7 to Rs 2,612 per quintal in futures trade today as speculators booked profits, driven by weak trend at spot market on subdued demand.

At the National Commodity and Derivatives Exchange, chana for March delivery slipped by Rs 7, or 0.27 per cent to Rs 2,612 per quintal, with an open interest of 89,710 lots. 

Similarly, the commodity for delivery in April contract shed Rs 3, or 0.11 per cent, to Rs 2,708 per quintal, with a business volume of 84,140 lots. 

Market analysts said profit booking by speculators, supported by a weak trend at spot market on subdued demand led to the decline in chana futures prices.

 

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First Published: Feb 21 2011 | 4:31 PM IST

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