KARACHI, Aug 24: Cotton market on Thursday showed firm trend as spinners and mills resumed normal covering operations followed by reports of damage to crop in the Sindh cotton belt.

Conflicting reports about the damage to Sindh crop owing to recent heavy rains are reaching here but there is no official word on the issue. Most of the reports are originating from the private sources, which could be deceptive, brokers said.

That is perhaps why both leading spinners and mills are not worried over the developing situation on the cotton front and mostly played safe not allowing speculative rise in prices.

However, the actual position is expected to be clear by the next couple of sessions as by that time leading ginners may have assessed the extent of crop losses through their own sources.

Official spot rates were revised upward by Rs25 per maund in line with those at which physical modest business was transacted but spinners were not inclined to make bigger commitments at the rising prices, brokers said.

Although Sindh variety was traded around the previous level, lint from the central Punjab cotton belt was a bit expensive and was traded at a premium of Rs135 per maund against the normal difference of Rs50 to 75.

Official spot rates were revised upward by Rs25 per maund at Rs2,475 but in the ready section some of the deals were done well above them.

New York cotton futures fell from the previous higher levels and were quoted lower by 0.20 and 0.28 cents per lb at 53.05 and 55.08 for both the ruling October and the forward December settlements, respectively.

Ready off-take was modest amounting to 800 bales as under: 200 bales, Mirpurkhas at Rs2,500, 100 bales, each Chichawatni at Rs2,625 and 2,635, respectively.