Cotton unchanged

Karachi : Trading slowed down at the Karachi Cotton Exchange on Saturday, while spot rate remained unchanged.

Karachi Cotton Association kept the official spot rate unchanged at Rs8,200/maund (37.324kg) and Rs8,788/40kg. Ex-Karachi rates also stood firm at Rs8,360/maund and Rs8,959/40kg after an addition of Rs160 and Rs171 as upcountry expenses, respectively.

An analyst said supply decreased in the market because of the religious month of Muharram.

Karachi cotton market recorded 18 transactions of around 10,500 bales at the price of Rs8,175/maund to Rs8,350/maund. Deals were reported from Sanghar, Tando Adam, Shahdadpur, Mirpurkhas, Shahpur Chakar, Nawabshah, Rohri, Khairpur, Rajanpur, Chichawatni, Haroonabad, Burewala and a few other stations. New York cotton market recorded increase on all its futures. October futures rose 0.28 cents to 81.90 cents/pound and December futures increased 0.32 cents to 81.83 cents/pound.