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27-Apr2018

Cotton futures trade lower on muted demand

Cotton futures traded lower on MCX due to muted demand from traders and stockists at the spot market. Though, expectation of shrinkage of cotton acreage by at least 10-15 lakh ha in coming kharif season due to pest attack, capped some losses.

The contract for April delivery was trading at Rs 20550.00, down by 0.19% or Rs 40.00 from its previous closing of Rs 20590.00. The open interest of the contract stood at 787 lots.

The contract for May delivery was trading at Rs 20870.00, down by 0.1% or Rs 20.00 from its previous closing of Rs 20890.00. The open interest of the contract stood at 8484 lots on MCX.


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