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14-Nov2018

Cotton futures edge lower on weak demand

Cotton futures edged lower on MCX on weak demand from traders and stockists at the spot market. Though, some losses were capped on lower production from major growing regions in 2018-19 due to scanty rainfall as per Cotton Association of India (CAI).

The contract for November delivery was trading at Rs 22280.00, down by 0.27% or Rs 60.00 from its previous closing of Rs 22340.00. The open interest of the contract stood at 3372 lots.

The contract for December delivery was trading at Rs 22420.00, down by 0.36% or Rs 80.00 from its previous closing of Rs 22500.00. The open interest of the contract stood at 5099 lots on MCX.

 


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