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03-May2014

Chana futures trade down on lower demand

Chana futures traded down on NCDEX on lower demand in the physical markets coupled with rising stocks on the exchange warehouses. Further, higher arrivals from the major producing belts too added pressure on commodity prices. However, forecast of lower than normal monsoon by the IMD, lower yield due to severe crop damage as well as procurement by the government agencies, capped some losses in chana prices to some extent.

The contract for May delivery was trading at Rs 3045.00, down by 0.68% or Rs 21.00 from its previous closing of Rs 3066.00. The open interest of the contract stood at 72200 lots.

The contract for June delivery was trading at Rs 3110.00, down by 0.73% or Rs 23.00 from its previous closing of Rs 3133.00. The open interest of the contract stood at 89750 lots on NCDEX.


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