India chana snaps 4-day gaining streak on profit-taking

MUMBAI, Nov 20 (Reuters) - India's December chana futures snapped a four-day gaining streak on Friday on profit-taking, but firm kharif pulses and improved spot demand due to concerns of lower acreage limited losses, analysts said.

The area under chana may shrink this year in Rajasthan, a key producer, due to poor rainfall and a diversion towards rapeseed, traders said.

Chana acreage in Rajasthan as on Nov. 10 stood at 403,000 hectares compared to 726,000 hectares during the same period a year ago.

Analysts also said the news of Punjab state government imposing stock limit from Nov. 20 impacted sentiment.

"Chana futures traded on a negative note during the day on extended profit-booking and on stock limit news," an analyst with a Hyderabad-based brokerage said.

The December chana contract NCHZ9 on the National Commodity Derivatives Exchange was down 0.74 percent at 2,670 rupees per 100 kg at 2:00 p.m.

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 % ===========================================================

Nov NCHX9 2,567 +0.04 Dec NCHZ9 2,660 -1.11 Jan

NCHF0 2,771 -1.46 (Reporting by Sourav Mishra; Editing by Sunil Nair) (sourav.mishra@thomsonreuters.com; tel: 91 22 6636 9241; Reuters Messaging: sourav.mishra.reuters.com@reuters.net))

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