Kapas prices strengthened by Rs 15.50 to Rs 801.80 per 20 kg in futures trading today on emergence of buying by speculators driven by a firming spot markets trend.
Market analysts said low level buying by traders amid pick-up in demand from stockists and retailers in the physical markets led to the rise in kapas futures prices.
At the National Commodity and Derivatives Exchange, kapas for delivery in February rose by Rs 15.50, or 1.97% to Rs 801.80 per 20 kg, revealing an open interest of 40 lots.
Kapas prices for delivery in April also gained Rs 10.70, or 1.36% to Rs 795 per 20 kg, with an open interest of 371 lots.