Kapas futures rise tracking firm spot market

Kapas prices strengthened by Rs 14.50 to Rs 904.50 per 20 kilo in futures trading as traders indulged in widening their bets in tandem with firm physical markets on tight supplies.
Marketmen said expanding positions by participants following a firm trend at the spot markets supported by widening gap between demand and supply, mainly led to the rise in kapas prices at futures market here.
At the National Commodity and Derivatives Exchange, kapas delivery for April spurted by Rs 14.50 or 1.63 per cent to Rs 904.50 per quintal, having an open interest of 13,994 lots.