Cotton futures trade up on export demand

Cotton futures traded up on MCX due to the rise in exports demand and bargain buying by traders and stockists, which created fresh positions inducing demand for the fibre. Further, expectations of higher exports mainly influenced the prices. The contract for June delivery was trading at Rs 19440.00, up by 0.93% or Rs 180.00 from its previous closing of Rs 19260.00. The open interest of the contract stood at 5428.00 lots. The contract for July delivery was trading at Rs 19650.00, up by 0.82% or Rs 160.00 from its previous closing of Rs 19490.00. The open interest of the contract stood at 2684.00 lots on MCX.