Sluggish trading at cotton market
 

Karachi

The cotton market was dull on Thursday as traders were reluctant to make big ticket transactions caused by falling demand.

A report from the Karachi Cotton Association showed that the market witnessed slowdown in physical trading. Traders bought only 400 bales from the ginners in Sindh and Punjab stations on decreased rates.

The deals were finalised at Rs4,650/maund and Rs5,800/maund, respectively.

The Karachi Cotton Association (KCA) kept the spot rate unchanged at Rs5,750/maund or equivalent to 37.324 kolograms.

Cotton dealers said spinning factories have completed short covering operations before Eid holidays and **w glued to sidelines unless fresh demand arises. Traders are also concerned about short supplies of commodity in the market.

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