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19-Aug2016

Cotton futures decline on subdued demand

Cotton futures declined on MCX due to expectation of better production as there is good weather across cotton sowing states like Gujarat and Maharashtra. Further, subdued demand from traders and stockists also influenced cotton futures.

The contract for October delivery was trading at Rs 20620.00, down by 2.46% or Rs 520.00 from its previous closing of Rs 21140.00.The open interest of the contract stood at 3910.00 lots.

The contract for November delivery was trading at Rs 19400.00, down by 1.97% or Rs 390.00 from its previous closing of Rs 19790.00. The open interest of the contract stood at 2679.00 lots on MCX.


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