Chana futures slide 1.07% on profit-booking

Chana prices moved down by 1.07 per cent to Rs 3,520 per quintal in futures trade today as participants booked profits at prevailing levels amid easing demand at the spot market.

At the National Commodity and Derivatives Exchange, chana for delivery in the current month contract fell by Rs 38, or 1.07 per cent, to Rs 3,520 per quintal with an open interest of 63,830 lots.

Similarly, the commodity for delivery in June contract declined by Rs 29, or 0.81 per cent, to Rs 3,544 per quintal in 79,850 lots.

Analysts said besides profit-booking by participants at existing level, decline in demand in the physical market against sufficient stocks position led to the fall in chana futures.