Cotton stable

Karachi: Slow trading activity was witnessed at the Karachi Cotton Exchange on Monday, while spot rates remained unchanged.

The spot rates stood firm at Rs7,500/maund (37.324kg) and Rs8,038/40kg. Ex-Karachi rates also increased to Rs7,645/maund and Rs8,193/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said mixed trend was observed during the trading. “Currently, only 500,000 bales are left with the ginners,” he added. Karachi Cotton market recorded six transactions of 4,000 bales at a price of Rs6,300 to Rs7,725/maund. Deals included 2,000 bales of Daharki at Rs7,700/maund, 400 bales of Ghotki at Rs7,725, 600 bales of Rahimyar Khan at Rs7,500, 223 bales of Burewala at Rs7,200, 400 bales of Khanewal at Rs6,300 and 200 bales of Shehar Sultan were sold at Rs7,400/maund.