Karachi : Dull trading activity continued at the Karachi Cotton Exchange on Friday, while spot rates remained unchanged.
The spot rates stood firm at Rs7,500/maund (37.324kg) and Rs8,038/40kg.
Ex-Karachi rates also remained unchanged at Rs7,645/maund and Rs8,193/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.
An analyst said trade activity remained low because the cotton season was over and buyers are waiting for the new crop in the market.
Besides, “This is the last ‘Ashra’ of Ramazan, so activity remains low,” he said.
“Trade activity will improve after Eid-ul-Fitr, as working timings will return to normal along with the expectation of arrivals from the new crop,” he added.
Karachi cotton market recorded only one transaction of 200 bales from Khanewal at Rs6,000/maund.
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