KARACHI, Oct 11: Cotton market on Friday passed through a dull session as spinners and ginners remained busy in discussing the post-election political scenario and its impact on the textile trade.

Stray lots, however, changed hands around the previous rates as local ginners covered positions fearing pressure on supplies during the next couple of sessions.

Floor brokers said arrivals of phutti into the ginneries are expected to be normal by the next week as the suspended picking operations of phutti will resume sometime by the middle of the next week and in the meanwhile, prices could rise further.

But some others hoped the policies initiated by the present regime are expected to be continue including free trade in cotton but chances of resumption of the hedge trading may not be that bright as they have been during the pre-election period.

However, the general perception was that unlike the stock market the trading in cotton is expected to remain normal as both the ginners and the spinners have choice to stay on the sidelines for few days until the things settle down on the political front.

“The supply and demand factors will continue to guide the price line in the post-election trading sessions around the current levels”, market sources said.

Some others say the market remain volatile until the new political government is in place as the negative cross-current of post-election political manoeuvring may influence the price line.

They said as the leading ginners in the entire cotton belt are associated with leading political parties their defeat and victory could have negative impact on the cotton trade for next couple of weeks.

Reports from the New York cotton market were positive where the matured October settlement was rung off the board and the December contract assumed the role of the ruling settlement.

The ruling December contract rose by 0.37 at 43.54 cents per lb and the forward March at 46.01 cents, up by 0.36 cents per lb.

Official spot rates, however, did not show any change owing to dull activity in the ready section and were held unchanged.

Ready offtake was light totalling 2,000 bales, the following being some of the notable deals:

SINDH VARIETY: 200 bales, each Shahdadpur at Rs1,950 and Rs1,975, 400 bales, Sanghar at Rs1,950, and 200 bales, at Rs1,975, 200 bales, Mirpurkhas at Rs1,960.