Cotton futures trade up on bargain buying

Cotton futures traded up on MCX due to good demand from local millers and yarn exporters amid thin domestic supply. Bargain buying by traders as the prices of the commodity had fallen to lower levels while demand in the international markets further helped the prices to rise in the futures markets. The contract for April delivery was trading at Rs 20410.00, up by 1.39% or Rs 280.00 from its previous closing of Rs 20130.00. The open interest of the contract stood at 3460.00 lots. The contract for May delivery was trading at Rs 20700.00, up by 1.47% or Rs 300.00 from its previous closing of Rs 20400.00. The open interest of the contract stood at 4594.00 lots on MCX.