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26-Nov2018

Cotton futures decline on muted demand

Cotton futures declined on MCX amid muted demand from domestic mills at the spot market. Though, some losses were capped as production from October 2018 to September 2019 is estimated to be 361 lakh bales as against 370 lakh bales last season.

The contract for November delivery was trading at Rs 21620.00, down by 0.60% or Rs 130.00 from its previous closing of Rs 21750.00. The open interest of the contract stood at 1344 lots.

The contract for December delivery was trading at Rs 21660.00, down by 0.41% or Rs 90.00 from its previous closing of Rs 21750.00. The open interest of the contract stood at 6133 lots on MCX.

 


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