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31-Jan2019

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. Further, reduction in cotton crop this year due to erratic rainfall and pest attacks in major producing regions also added supported to cotton futures' uptrend.

The contract for January delivery was trading at Rs 20690.00, up by 0.05% or Rs 10.00 from its previous closing of Rs 20680.00. The open interest of the contract stood at 1522 lots.

The contract for February delivery was trading at Rs 21010.00, up by 0.10% or Rs 20.00 from its previous closing of Rs 20990.00. The open interest of the contract stood at 9790 lots on MCX.


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