Cotton futures trade higher on rising demand

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Cotton futures traded higher on MCX on lower supplies of good quality stock from major producing belts. Besides, rising demand from domestic mills also fuelled the uptrend.

The contract for May delivery was trading at Rs 17330.00, up by 0.52% or Rs 90.00 from its previous closing of Rs 17240.00. The open interest of the contract stood at 5159.00 lots.

The contract for June delivery was trading at Rs 17510.00, up by 0.40% or Rs 70.00 from its previous close of Rs 17440.00. The open interest of the contract stood at 3741.00 lots on MCX.

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