KARACHI, Aug 17: Cotton prices ended flat on Friday and brokers said it was traded in a narrow range as there was hardly any activity due to the upcoming Eid holidays.

Karachi Cotton Association maintained its spot rate at Rs5,955 per maund.

In Sindh, around 2,400 bales of cotton were traded between Rs5,825 to Rs5,850, whereas in Punjab only 400 bales of cotton were exchanged at Rs5,800 to Rs5,900.

Trade activity and prices are likely to pick up after the market resumes on Thursday.

New York cotton prices drifted lower on profit-taking. The benchmark December cotton contract on ICE Futures US fell 0.71 percent to settle at 72.59 cents per lb as the market settled between its 10-day and 50-day moving averages.

The following transactions were reported on the ready counter on Friday: 600 bales, Shadadpur at Rs5,835 to Rs5,850, 600 bales, Sanghar at Rs5,825 to Rs5,850, 400 bales, Tandoadam at Rs5,850, 800 bales Mirpurkhas at Rs5,825 to Rs5,850, 200 bales, Pakpattan at Rs5,850 and 200 bales, Shadanlund at Rs5,900.