Kapas futures rise on positive spot cues

Kapas prices recovered by Rs 7.50 to Rs 937.50 per 20 kg in futures trade today after participants accumulated positions amid a firm trend in the physical market.

Market players said a better trend in the domestic physical market, supported by fall in supplies amid pick-up in demand at existing levels, pushed up kapas prices in the futures market here.

At the National Commodity and Derivative Exchange, kapas for delivery in far-month April contracts was trading higher by Rs 7.50, or 0.81 per cent, at Rs 937.50 20 kg with the business turnover of 7,431 lots.