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22-Mar2019

Cotton futures trade higher on improved demand

Cotton futures traded higher on MCX amid improved demand from traders and stockists at the spot market. Besides, lower output in the 2018-19 season due to the drought situation in the major producing belts of Gujarat and Marathwada also fuelled the uptrend.

The contract for March delivery was trading at Rs 21440.00, up by 0.70% or Rs 150.00 from its previous closing of Rs 21290.00. The open interest of the contract stood at 6383 lots.

The contract for April delivery was trading at Rs 21750.00, up by 0.65% or Rs 140.00 from its previous closing of Rs 21610.00. The open interest of the contract stood at 11048 lots on MCX.


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