Lacklustre trading on cotton market

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MULTAN : Lacklustre trading was witnessed on the cotton market on Tuesday as no transaction was done in Sindh while the Karachi Cotton Market kept its spot rate unchanged. “Trading activities have almost halted as Eid is near and transport would not be available to shift cotton to mills," said a broker.

 

He said that transactions would also stop in the Punjab on Wednesday.

 

He said that ginners from Sindh were not doing futures trading as there were chances of increase in prices not only in local market but also in international market after Eid.

 

He said that local market may witness a sufficient increase in prices after Eid.

 

The KCA kept its spot rate unchanged at Rs6550 per maund and a total of 1200 bales were exchanged across the Punjab. The following transactions were reported on the ready counter on Tuesday:

 

PUNJAB VAREITY: 400 bales, Burewala at Rs6600/6700, 200 bales, Chichawatni at Rs6700, 200 bales, Kabirwala at Rs6650, 200 bales, Gaggo Mandi at Rs6600 and 200 bales, Rahim Yar Khan at Rs6675.




Courtesy:  Dawn


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