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Chana futures trade lower on profit-taking

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Press Trust of India New Delhi

Chana prices fell by Rs 9 to Rs 2,264 per quintal in futures trade today, as speculators booked profits at existing higher levels amid weakening trend at the spot market.

At the National Commodity and Derivatives Exchange counter, chana for September month declined by Rs 9 or 0.40 per cent to Rs 2,264 per quintal, with an open interest of 1,70,980 lots.

However, chana for October month delivery held steady at Rs 2,287 per quintal in 286 lots.

Analysts said the weakness in chana futures was mostly due to profits-booking by speculators at higher levels and fall in spot demand at the physical markets.

 

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First Published: Aug 24 2010 | 1:11 PM IST

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