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Kapas futures drop on weak physical demand

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Press Trust of India New Delhi
Last Updated : Sep 03 2018 | 1:20 PM IST

Kapas prices eased by 0.26 per cent to Rs 1,138.50 per 20 kilos at the futures trade today on cutting down of bets by the traders amid lower physical markets lead.

Marketmen said traders were shortening their holdings, depressed by weak sentiments in the spot markets, which reflected the downfall in kapas futures prices.

In the spot market feeble demand from textile industries and fiber units held the prices in the negative territory, they added.

At the National Commodity and Derivatives Exchange, kapas for April 2019 faded by Rs 3, or 0.26 per cent, to Rs 1,138.50 per 20 kilos, having business turnover of 3,515 open interest lots.

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First Published: Sep 03 2018 | 1:20 PM IST

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