Cotton futures trade higher on bargain buying

Sep 26,2014   11:29 Hrs IST

Cotton futures traded up on MCX due to rise in exports demand and bargain buying by traders and stockists, who created fresh positions inducing demand for the fiber. Moreover, decline in arrivals and improved demands from millers, supported the price rise in futures market The contract for October delivery was trading at Rs 16910.00, up by 1.14% or Rs 190.00 from its previous closing of Rs 16720.00. The open interest of the contract stood at 1792.00 lots. The contract for November delivery was trading at Rs 16170.00, up  by 1.00% or Rs 160.00 from its previous closing of Rs 16010.00. The open interest of the contract stood at 2548.00 lots on MCX.