KARACHI: Trading activity in cotton market remained bullish as buyers attracted towards fine lint.
According to the Karachi Cotton Association (KCA), the spot rate intact at Rs 5,500 per maund in order to provide support to weak stakeholders of raw grade to ward off minimal price level.
During the trading session, buyers in Sindh and Punjab stations bought all grades while sellers offered all grades of lint at around Rs 5,000 per maund to Rs 5,475 per maund in order to capitalise maximum returns on their proceeds, floor brokers said.
Buyer remained cautious in making any big deal as they only made deals according to their immediate need of lint on back of grade issue and in anticipation of decline in spot rate, they added.
Spinners and mills in Sindh and Punjab stations made deals for all grades on competitive price at around Rs 4,975 per maund to Rs 5,225 per maund while general buyers made deals for all grades in Punjab and Sindh stations at around Rs 4,975 per maund to Rs 5,100 per maund, traders said.
