Moderate trading witnessed as buyers focus on quality lint

At Pakistan cotton market trading activity remained moderate on Thursday, as buyers made deals for quality lint on slightly higher prices at around Rs 5,575 per maund during the trading session, said floor brokers.

In domestic market, buyers continued to keep an eye on quality lint on the back of growing demand of cloth and yarn.

The Karachi Cotton Association (KCA) spot rate unchanged Rs 5,400 per maund.

A senior trader, Ghulam Rabbani said that buyers remained eager for fine grades of cotton and the ginning units in Sindh and Punjab stations were maintaining quality as demand from export sector was increasing as well as big groups consolidated their long positions.

The market remained in steady tones and mills and spinners increased their purchase in order to consolidate their long positions with fresh fine lots, he added.

According to KCA around 400 bales changed hands, 100 bales of Hyderabad changed hands at Rs 5,100 per maund, 100 bales of Bahawalnagar at Rs 5,050 per maund, 100 bales of upper Sindh at Rs 5,000 per maund and 100 bales of southern Punjab at Rs 5,225 per maund.