Some trading activity at the lower level was seen at cotton market on Tuesday as buyers were mostly reluctant anticipating fall in prices in the coming days.
However, spinners on their part were also cautious as they are not getting right price for cotton yarn as the market is sluggish and prices are under pressure. Trading remained restricted and limited as some needy mills lifted small lot deals,.
Ginners, who are holding very little stocks of around 240,000 bales, also seem to be in no hurry to dispose of their stocks at current price
The Karachi Cotton Association (KCA) spot rates were firm at previous level.
The following deals changed hands on ready counter: 982 bales from Kot Lalu done at Rs 4400, 400 bales Rajanpur at Rs5000, 400 bales Kabbirwala at Rs5175, 200 bales Shujabad at Rs5250, 100 bales Multan at Rs5250, 600 bales Khanewal at Rs5500, 1000 bales Khanpur at Rs5500 and 1000 bales Rahimyar Khan at Rs5600.
On global front, the world cotton markets remained steady where New York cotton market finished higher for all the future contracts except far-off May 2016 contract which closed with a nominal fall.
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