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10-Aug2018

Cotton futures edge higher on rising demand

Cotton futures edged higher on MCX amid rising demand from domestic mills at the spot market. Besides, expectation of lower yield and crop failure due to insufficient rains in major producing belts of Gujarat also fuelled the uptrend.

The contract for October delivery was trading at Rs 24070.00, up by 0.42% or Rs 100.00 from its previous closing of Rs 23970.00. The open interest of the contract stood at 4015 lots.

The contract for November delivery was trading at Rs 23640.00, up by 0.42% or Rs 100.00 from its previous closing of Rs 23540.00. The open interest of the contract stood at 2488 lots on MCX.

 


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