Ample stocks drag down chana futures by 1.51%

NEW DELHI, Sept 22:  Chana prices dropped 1.51 per cent to Rs 4,491 per quintal in futures trade today as participants reduced exposure, triggered by ample stocks at the spot market on higher supplies from producing belts.
At the National Commodity and Derivative Exchange, chana for delivery in October plunged Rs 69, or 1.51 per cent to Rs 4,491 per quintal with an open interest of 77,430 lots.
Similarly, the commodity for delivery in November eased by Rs 38, or 0.83 per cent, to Rs 4,546 per quintal in 60,930 lots.
Analysts said offloading of positions by speculators, driven by adequate stocks position on higher supplies from producing regions in the physical market against low demand mainly kept pressure on chana prices in futures trade. (PTI)

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