text: 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 . -- Bombay Commodities +91-22-265 9000