Kapas futures fall on weak spot sentiment

Kapas prices drifted lower by Rs 11.50 to Rs 929,50 per 20 kg in futures trade today on off-loading of bets by participants amid a weak trend at the physical market. Marketmen said the fall in kapas prices in futures trade was mostly due to trimming of positions by participants in line with a weak trend at the spot markets. At the National Commodity and Derivative Exchange, kapas to be delivered in April contracts moved down by Rs 11.50, or 1.22 per cent, to Rs 929.50 per 20 kg, with the business turnover of 7,493 open lots.