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21-Mar2018

Cotton futures trade higher on improved demand

Cotton futures traded higher on MCX due to improved demand from traders and stockists at the spot market. Besides, expectation of lower output in major producing belts of Maharashtra and Telangana due to pink bollworm attacks also added support to cotton futures' uptrend.

The contract for March delivery was trading at Rs 20230.00, up by 0.45% or Rs 90.00 from its previous closing of Rs 20140.00. The open interest of the contract stood at 4326 lots.

The contract for April delivery was trading at Rs 20520.00, up by 0.39% or Rs 80.00 from its previous closing of Rs 20440.00. The open interest of the contract stood at 4276 lots on MCX.


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