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Chana weakens on profit taking

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Press Trust of India New Delhi

Chana prices declined by Rs 30 to Rs 2,170 per quintal in futures trade today, as speculators preferred to book profits at higher levels, triggered by subdued demand in the spot market.

At the Multi Commodity Exchange counter, chana for October-month contract declined by Rs 30, or 1.36 per cent, to Rs 2,170 per quintal, with a business turnover of 17 lots.

November delivery eased by Rs 7, or 0.30 per cent, to Rs 2,293 per quintal, with an open interest of four lots.

Marketmen said subdued demand against adequate supplies in the physical market mainly led to a fall in chana prices at futures market. 

 

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First Published: Oct 18 2010 | 2:53 PM IST

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