Cotton futures rule flat on MCX

Cotton futures ruled flat for the April contracts. While May contracts traded down due to supplies from the new harvest amid sluggish demand from millers, while estimates of higher output.  The contract for April delivery was trading flat at its previous close of Rs. 20650.00/ Bales. The open interest of the contract stood at 328.00 lots. The contract for May delivery was trading at Rs 21190.00/Bales, down by 0.14% or Rs 30.00 from its previous closing of Rs 21220.00. The open interest of the contract stood at 6286.00 lots on MCX.