KARACHI: The cotton market witnessed bearish activity as trade volumes remained low.
A round 1,800 bales of cotton from Sindh and Punjab were sold by the ginners at rates of Rs4,475-6,000/maund. The spot rate was maintained at the previous level of Rs5,650/maund.
Cotton dealers said that spinners and mills were not in the mood to make large transactions as they had already completed their short covering to meet raw material demand. They were remained on sidelines in line with global cotton markets which was flat on decline in demand.
A round 1,800 bales of cotton from Sindh and Punjab were sold by the ginners at rates of Rs4,475-6,000/maund. The spot rate was maintained at the previous level of Rs5,650/maund.
