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30-Aug2018

Cotton futures trade lower on muted demand

Cotton futures traded down on MCX, as market players reduced their bets amid muted demand from traders and stockists at the spot market. However, reports of lower production prospects and delay in harvesting in the state of Gujarat due to erratic rains trimmed the downside momentum.

The contract for October delivery was trading at Rs 22870.00 down by 0.52 % or Rs 120.00 from its previous closing of Rs 22990.00. The open interest of the contract stood at 3846 lots.

The contract for November delivery was trading at Rs 22490.00, down by 0.62 % or Rs 140.00 from its previous closing of Rs 22630.00. The open interest of the contract stood at 2087 lots on MCX.


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