Karachi : Active trading continued at the Karachi Cotton Exchange on Tuesday, while spot rate increased Rs50/maund.
Karachi Cotton Association increased the official spot rate to Rs8,300/maund (37.324kg) and Rs8,895/40kg. Ex-Karachi rates also rose to Rs8,460/maund and Rs9,066/40kg after an addition of Rs160 and Rs171 as upcountry expenses, respectively.
An analyst said market remained stable, as demand and supply increased simultaneously.
Karachi cotton market recorded 27 transactions of around 16,000 bales at the price of Rs8,100/maund to Rs8,300/maund. Deals were reported from Mirpurkhas, Sanghar, Tando Adam, Shahdadpur, Nawabshah, Daur, Moro, Khairpur, Arifwala, Burewala, Chichawatni, Vehari, Dera Ghazi Khan, Lodhran and a few other stations.