Kapas futures fall 0.72% on weak spot demand

Kapas prices fell by Rs 6.50 to Rs 894.50 per 20 kg in futures trade today on sustained bouts of selling by investors in a weak physical demand.

Market players said ample stocks on regular arrivals from producing areas amid scattered demand from textile industries in spot markets weighed on kapas futures prices.

At the National Commodity and Derivatives Exchange, kapas delivery in April contracts dropped by Rs 6.50, or 0.72 per cent, to Rs 894.50 per 20 kg, with a business turnover of 7,120 open lots.