Chana futures slide 0.44% on weak spot cues

Chana prices declined by 0.44 percent to Rs 3,852 per quintal in futures trading today as speculators trimmed their positions, taking negative cues from spot markets.

At the National Commodity and Derivatives Exchange, chana for delivery in September month fell by Rs 17, or 0.44 percent, to Rs 3,852 per quintal with an open interest of 38,000 lots.

Similarly, the commodity for delivery in October month lost Rs 16, or 0.40 percent, to Rs 3,975 per quintal in 49,600 lots.

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