Kapas futures drop on weak physical demand

Kapas prices eased by 0.26 percent 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 percent, to Rs 1,138.50 per 20 kilos, having a business turnover of 3,515 open interest lots.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)