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01-Feb2014

Chana futures edge lower on sluggish demand

Chana futures edged lower on NCDEX as speculators booked profits, driven by a weak trend at the spot market on sluggish demand. Ample carry-forward stocks and expectations of higher production this season too influenced the commodity but concerns about the quality and yield of the crop due to a cold wave and rains in some parts of the leading cultivating areas capped the losses to some extent.

The contract for February delivery was trading at Rs 2,870.00, down by 0.62% or Rs 18.00 from its previous closing of Rs 2,888.00. The open interest of the contract stood at 61810 lots.

The contract for April delivery was trading at Rs 3,016.00, down by 0.49% or Rs 15.00 from its previous closing of Rs 3,031.00. The open interest of the contract stood at 63410 lots on NCDEX.


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