Cotton improves

Karachi: Active trading activity was recorded at the Karachi Cotton Exchange on Thursday, while spot rates increased Rs50/maund.

The spot rates rose to Rs6,150/maund (37.324kg) and Rs6,591/40kg. Ex-Karachi rates also increased to Rs6,295/maund and Rs6,746/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said the activity improved in the market after cotton arrivals reached high level due to boom from Punjab. “Market prices will be stabilised in the coming days,” he added. A total of 29 transactions were recorded of around 45,000 bales at a price of Rs6,100 to Rs6,300/maund. Among them, notable deals were recorded from Rohri, Saleh Pat, Khairpur, Nawabshah, Sakrand, Fazalpur, Rajanpur, Vehari, Mianwali, Burewala, Shujaabad, Khanewal, Layyah, Bahawalpur, Fort Abbas and Chichawatni.