Cotton futures edged higher on MCX due to improved demand from traders and stockists at the spot market. Further, reports of heavy rains in major growing areas of Gujarat also fuelled the uptrend.
The contract for July delivery was trading at Rs 20320.00, up by 0.74% or Rs 150.00 from its previous closing of Rs 20170.00. The open interest of the contract stood at 4438 lots.
The contract for October delivery was trading at Rs 18570.00, up by 0.22% or Rs 40.00 from its previous closing of Rs 18530.00. The open interest of the contract stood at 630 lots on MCX.