Cotton futures traded higher on MCX due to bargain hunting by traders as the prices of the commodity had fallen to lower levels while demand in the international markets improved international too. Moreover, decline in arrivals and improved demands from millers, supported the price rise in futures market
The contract for February delivery was trading at Rs 14830.00, up by 0.41% or Rs 60.00 from its previous closing of Rs 14770.00. The open interest of the contract stood at 4641.00 lots.
The contract for March delivery was trading at Rs 15060.00, up by 0.53% or Rs 80.00 from its previous closing of Rs 14980.00. The open interest of the contract stood at 4151.00 lots on MCX.