MUMBAI, April 20 (Reuters) - India chana futures opened lower on Monday on expectations higher stocks in exchange warehouse will lead to higher delivery in the near-month contract, analysts said.
Stocks at the National Commodity and Derivatives Exchange (NCDEX)-accredited warehouses stood at 34,722 tonnes as on April 15, exchange data showed.
The near-month April contract is set to expire on Monday.
At 10:33 a.m., the May futures contract NCHK9 was down 0.37 percent at 2,404 rupees per 100 kg.
But firm spot prices of other pulses and improvement in demand from stockists limited the downside, they added.
Prices of summer-sown pulses such as tur, urad and moong have risen on lower output, which, according to government estimates, may fall by a quarter to 4.82 million tonnes in 2008/09 crop year.
GUAR:
India guar futures opened higher on export demand, however, expectations of stock offloading by stockists limited gains, analysts said.
At 10:25 a.m, May futures NGUK9 was at 1,838 rupees per 100 kg, up 0.38 percent.
Source : REUTERS INDIA