Kapas futures climbs further on heavy buying

Kapas prices extended gains by Rs 15.40 to Rs 681.70 per 20 kg in the futures market today following sustained buying by traders. 

Market analysts said speculative buying by traders in line with firm spot markets cue, mainly pushed up kapas futures prices for second straight day. 

At the National Commodity and Derivatives Exchange, kapas price for April delivery jumped by Rs 15.40, or 2.31%, to Rs 681.70 per 20 kg, with an open interest of 4,423 lots.  

The kapas for February delivery also added Rs 13.90, or 2.08%, to Rs 681 per 20 kg, showing an open interest of 101 lots.