Cotton market witnessed improved trading activity

Cotton market in Pakistan witnessed improved trading activity due to renewed buying on Tuesday, dealers said. The official spot rate remained still at Rs 6250. As per the market sources, the spinners were seen indulged in fresh buying to replenish their stock.

In Sindh, seed cotton prices were at Rs 2600-3300, while in Punjab, phutti rates remained at Rs 2800 and Rs 3550, as per 40 kg, dealers added.

According to cotton analyst, Naseem Usman, prices of quality lint may maintain stable in the near future.

The following deals were reported to have changed hands as per dealers: 600 bales from Shahpur Chakar at Rs 5950, 600 bales from Sarhari at Rs 5975, 1000 bales from Jam Sahab at Rs 6000, 2000 bales from Nawabshah at Rs 6025/6050, 600 bales from New Saeedabad at Rs 6050, 800 bales from Sakrand at Rs 6000, 1200 bales from Rohri at Rs 6260/6400, 2000 bales from Salehpat at Rs 6300/6350, 800 bales from Ghotki at Rs 6500, 600 bales from Dharki at Rs 6500, 3000 bales from Mianwali at Rs 5950/6000, 600 bales from Mianchano at Rs 6000, 1000 bales from Layyah at Rs 6000/6275, 400 bales from Chistian at Rs 6350, 1200 bales from Bahawalpur at Rs 6350, 2000 bales from Haroonabad at Rs 6300/6350, 1400 bales from Fort Abbas at Rs 6350, 1600 bales from Rahim Yar Khan at Rs 6500/6550, 400 bales from Shujabad at Rs 6575, 1400 bales from Sadiqabad at Rs 6600 and 1200 bales from Hasilpur at Rs 6600.

In the ready session, over 25,000 bales of cotton changed hands between Rs 5950 and Rs 6600.