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07-Aug2018

Cotton futures edge higher on pickup in demand

Cotton futures edged higher on MCX, amid pickup in demand from traders and stockists at the spot market. Besides, expectation of lower production from major growing regions of Maharashtra also fuelled the uptrend.

The contract for October delivery was trading at Rs 24050.00, up by 0.50% or Rs 120.00 from its previous closing of Rs 23930.00. The open interest of the contract stood at 4000 lots.

The contract for November delivery was trading at Rs 23620.00, up by 0.64% or Rs 150.00 from its previous closing of Rs 23470.00. The open interest of the contract stood at 2538 lots on MCX.


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