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31-Aug2018

Cotton futures trade tad lower on weak demand

Cotton futures traded marginally lower on MCX due to liquidation of their holdings amid good condition of cotton in main cotton growing states and on reports of lesser pest attacks in Maharashtra. Though, reports on delay in harvesting in Gujarat due to erratic rains capped the downside momentum.

The contract for October delivery was trading at Rs 22870.00, down by 0.22% or Rs 50.00 from its previous closing of Rs 22920.00. The open interest of the contract stood at 3626 lots.

The contract for November delivery was trading at Rs 22480.00, down by 0.22% or Rs 50.00 from its previous closing of Rs 22530.00. The open interest of the contract stood at 2179 lots on MCX.


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