Cotton unchanged

Karachi : Normal trading activity continued at the Karachi Cotton Exchange on Wednesday, while spot rate remained unchanged.

Karachi Cotton Association kept the official spot rate firm at Rs8,300/maund (37.324kg) and Rs8,895/40kg. Ex-Karachi rates also stood unchanged at Rs8,460/maund and Rs9,066/40kg after an addition of Rs160 and Rs171 as upcountry expenses, respectively.

An analyst said trade is likely to increase after Ashura, as more arrivals are expected.

Karachi cotton market recorded 23 transactions of around 18,000 bales at the price of Rs8,300/maund to Rs8,500/maund. Deals were reported from Mirpurkhas, Sanghar, Tando Adam, Shahdadpur, Nawabshah, Hyderabad, Bandhi, Saleh Pat, Ahmedpur, Rahimyar Khan, Bahawalpur, Lodhran, Burewala, Chichawatni, Vehari and a few other stations.