Cotton stable

Karachi : Trading activity improved at the Karachi Cotton Exchange on Wednesday, while spot rates remained unchanged.

The spot rates stood firm at Rs7,600/maund (37.324kg) and Rs8,145/40kg. Ex-Karachi rates also remained unchanged at Rs7,745/maund and Rs8,300/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said trade improved, which would further go up after Eid holidays, as new crop would start coming.

Karachi cotton market recorded five transactions of around 2,500 bales at in the range of Rs6,100 and Rs7,600/maund.

Of these, 800 bales were sold from Khanewal at Rs6,650 to Rs7,000/maund, 300 bales of Kabirwala at Rs6,650 to Rs7,300/maund, 400 bales of Taunsa Sharif at Rs7,000, 600 bales of Khanpur at Rs7,600/maund and 200 bales of Sahiwal were sold at Rs6,100/maund.