KARACHI, July 26: Cotton prices fell on Thursday, taking cue from the global trend along with higher arrival of phutti and brokers expect prices to continue to fall further in the short-term.

The Karachi Cotton Association also revised down its spot rate by Rs100 per maund to Rs5,830. Analysts said that there was lack of activity also due to the month of Ramazan.

The New York cotton futures closed near a one-month low on speculative sales triggered by a drop below a technical level.

The following transactions were reported on the ready counter on Thursday: 1,400 bales, Shahdad Pur at Rs5,750 to Rs5,800, 1,000 bales, Tando Adam at Rs5,750 to Rs5,800, 1,200 bales, Mirpur Khas at Rs5,700 to Rs5,800, 1,600 bales, Sanghar at Rs5,700 to Rs5,800, 800 bales, Hyderabad at Rs5,700 to Rs5,800, 200 bales, Silan wali at Rs5,500, 200 bales, Mongi Bangla at Rs5,525, 200 bales, Pir Mahal at Rs5,525, 200 bales, Garha Morr at Rs5,550, 800 bales, Burewala at Rs5,550 to Rs5,575.

More From This Section

Saarc urged to form EU-like insurance sector

KARACHI: Saarc states should work together to develop an insurance sector like that of the European Union as the...

Dar takes tax officials to task over target

Chief commissioners were called in to work out means for showing growth in revenue collection to reach the target.

Higher foreign investment remains a dream

KARACHI: Foreign investment is still a dream for the country which succeeded to improve its foreign exchange ...

Heavy vehicles sales show robust growth

KARACHI: Heavy vehicles and light commercial vehicles segments continued to show robust growth, while sales of bikes...


Comments are closed.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
Cartoons
E-PAPER
Front Page