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07-Jan2019

Cotton futures edge higher on improved demand

Cotton futures edged higher on MCX amid improved demand from traders and stockists at the spot market. Besides, Cotton Association of India cuts 2018- 19 production estimate by 3 lakh bales to 340.25 lakh bales also fuelled the uptrend.

The contract for January delivery was trading at Rs 21160.00, up by 0.43% or Rs 90.00 from its previous closing of Rs 21070.00. The open interest of the contract stood at 8258 lots.

The contract for February delivery was trading at Rs 21400.00, up by 0.42% or Rs 90.00 from its previous closing of Rs 21310.00. The open interest of the contract stood at 2501 lots on MCX.


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