Cotton futures edge lower on sluggish demand

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Cotton futures edged lower on MCX due to sluggish demand from traders at the spot market. Though, expectation of improved demand after Diwali festival when quality arrival will be in full-fledged, capped some losses in cotton futures.

The contract for October delivery was trading at Rs 15890.00, down by 0.44% or Rs 70.00 from its previous closing of Rs 15960.00.The open interest of the contract stood at 434.00 lots.

The contract for November delivery was trading at Rs 15610.00, down by 0.38% or Rs 60.00 from its previous closing of Rs 15670.00. The open interest of the contract stood at 2276.00 lots on MCX.

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