Chana futures extend fall

Chana prices fell by 1.27 per cent to Rs 3,490 per quintal in futures trade today, falling for the third day, as participants reduced exposure amid subdued demand at the spot market against adequate stocks.

Moreover, profit-booking at existing levels weighed on the sentiment.

At the National Commodity and Derivatives Exchange, chana for delivery in May contracts fell by Rs 45, or 1.27 per cent, to Rs 3,490 per quintal, with an open interest of 93,690 lots.

Similarly, the commodity for delivery in far-month contracts drifted lower Rs 45, or 1.26 per cent, to Rs 3,520 per quintal. The open interest of the contract stood at 34,240 lots

Market analysts attributed persistent fall in chana futures to offloading of positions by traders owing to subdued demand in physical market against ample stocks position.