The Karachi Cotton Association (KCA) kept spot rate at Rs 5,250 per maund while market stood positive during trading session and majority of the ginning units produced second grade lint to around 6,300 bales out of total output of around 9,900 bales.
The sellers dominated the market by asking price on their terms while buyers remained quality cautious that kept market sentiments on dull side despite shrinking domestic fine stocks, floor brokers said.
The mills of Punjab purchased fine lots around Rs 5,725 per maund and Rs 5,750 per maund, while Sindh ginners offered their raw produce on competitive prices at around Rs 4,575 per maund depending on trash level. The quality lint would likely to fetch above Rs 5,750 per maund while the poor cotton would be traded around Rs 4,575 per maund during coming trading sessions.
News source: Daily Times