KARACHI: After bullish trend in cotton market, the trading activity remained slow on Saturday.
According to the brokers, the respite in activity was expected because limited stocks held by ginners do not allow prolonged brisk trading from both sellers and buyers. However, there was demand from some needy mills, but ginners kept asking higher rates for their limited cotton stocks.
Barring a few deals, which were mostly finalised on high rates, activity on the market remained devoid of enthusiasm. The delay in new crop arrival continues to worry textile industry which feels that next three months would be difficult period as far as raw material is concerned.
The following deals were reported to have changed hands on ready counter: 600 bales from Vehari done at Rs4700 to Rs5275, 1266 bales Sadiqabad at Rs5500, 400 bales Chichawatni at Rs5500 and 2200 bales Khanpur at Rs5500.
