Chana futures drop by 1.63 on profit booking

NEW DELHI: Chana prices moved down by 1.63 per cent to Rs 8,800 per quintal in futures trade today as participants booked profits at prevailing levels, driven by a fall in demand in the spot market.

At the National Commodity and Derivatives Exchange, chana for delivery in September month fell by Rs 146, or 1.63 per cent to Rs 8,800 per quintal with an open interest of 270 lots.

Market analysts said besides profit-booking by traders at existing levels, easing demand at spot market at prevailing levels amid government's measures to curb rising prices mainly influenced chana prices at futures trade.