Kapas prices moved down by Rs 9.60 to Rs 722.60 per 20 kg units in futures trading today as traders preferred to book profits at high levels, driven by weakening spot markets.
Market analysts said apart from profit booking, sluggish demand amid increased supply in domestic markets influenced trading sentiments here in kapas futures prices.
At the National Commodity and Derivatives Exchange, kapas prices for February delivery went down by Rs 9.60, or 1.31%, to Rs 722.60 per 20 kg, with an open interest of 161 lots.
Likewise, kapas prices for March delivery declined by Rs 7.90, or 1.08%, to Rs 721 per 20 kg, showing an open interest of 11 lots.
