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10-Jul2017

Cotton futures edge higher on uptick in demand

Cotton futures edged higher on MCX due to uptick in demand from traders and stockists at the spot market. Besides, fear of decline in yield due to deficient rainfall in major growing areas also fuelled the uptrend.

The contract for July delivery was trading at Rs 20730.00, up by 0.78% or Rs 160.00 from its previous closing of Rs 20570.00. The open interest of the contract stood at 5399 lots.

The contract for October delivery was trading at Rs 18980.00, up by 1.06% or Rs 200.00 from its previous closing of Rs 18780.00. The open interest of the contract stood at 454 lots on MCX.


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