Kapas prices dropped by Rs 16.70 to Rs 762.50 per 20 kg at the futures trade today following aggressive selling by traders in line with a weak spot market sentiment.

Market analysts said sluggish demand in tandem with adequate stocks in the physical market mainly led to the fall in futures prices of kapas.

At the National Commodity and Derivatives Exchange, kapas prices for delivery in March dipped by Rs 16.70 or 2.14 per cent to Rs 762.50 per 20 kg with a trade volume of 11 lots.

Similarly, February contract shed Rs 12.10 or 1.55 per cent to Rs 770 per 20 kg with a business turnover of 48 lots and April contract lost Rs 12.10 or 1.55 per cent to Rs 768.50 per 20 kg with an open interest of 741 lots.

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