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Kapas prices shot up by 3.01 per cent at the futures trade today on aggressive buying by traders against tight stocks position on restricted arrivals at the spot market.
Market analysts said heavy buying by traders against low inventories and restricted arrivals at the spot markets mainly pushed up the prices.
At the National Commodity and Derivatives Exchange, kapas prices for February delivery jumped up by Rs 24.70 or 3.01 per cent to Rs 845.80 per 20 kg with an open interest of four lots.
Similarly, the prices for delivery in April gained Rs 17.80 or 2.15 per cent to Rs 845 per 20 kg showing an open interest of 405 lots.
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