Indian cotton trade shut for local festival .
BOMBAY 1996-08-28
India 's cotton trade was shut on Wednesday for a local religious festival , dealers said .
Trading will resume on Thursday .
On Tuesday , cotton prices fell on profit-taking prompted by increased offerings from state agencies .
" Export deals remained thin and hardly a few thousand bales were traded at the rate of 57.50 / 60 cents per pound , " one broker said .
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