Chana trims early gains on fresh arrivals, stocks

MUMBAI, March 19 (Reuters) - India's chana futures trimmed early gains to end almost steady on Friday as pressure from fresh arrivals, hopes of higher output and ample stocks weighed on sentiment, analysts and traders, said.

"Buying is very limited in spot market. Traders are buying only as per their requirement on fears of further drop in the prices," said a trader from Delhi.

Arrivals were rising steadily in major spot markets like Indore, Nagpur, Delhi, Latur and Gulbarga, traders said.

"All pulses such as urad, tur and masoor are trading weak. Demand is not picking up as per the expectations ... arrivals from Madhya Pradesh are at a peak," said Vandana Bharti, senior analyst at SMC Comtrade.

"However, prices may recover once arrival pressure slows down," said Bharti.

In Delhi spot market, price gained 8 rupees to 2,150 rupees per 100 kg.

India's chana acreage as on March 11 stood at 8.92 million hectares, compared with 8.35 million hectares in the same period a year ago, farm ministry data showed.

Following are the closing prices of chana futures in rupees per 100 kg on the National Commodity Derivatives Exchange <0#NCH:>

Contract Reuters code Closing price Change in % ===========================================================

April NCHJ0 2,198 unchanged

May NCHKO 2,276 +0.13 (Reporting by Meenakshi Sharma; Editing by Harish Nambiar)