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06-Sep2016

Cotton futures trade higher on pickup in demand

Cotton futures traded higher on MCX due to pickup in demand from traders and stockists at the spot market. Though, reports of light rain showers across the cotton sowing belts of Maharashtra which will be beneficial for the growth of cotton crop, capped some gains in cotton futures.

The contract for October delivery was trading at Rs 19680.00, up by 0.15% or Rs 30.00 from its previous closing of Rs 19650.00. The open interest of the contract stood at 3436.00 lots.

The contract for November delivery was trading at Rs 18650.00, up by 0.32% or Rs 60.00 from its previous closing of Rs 18590.00. The open interest of the contract stood at 2071.00 lots on MCX.


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