960404

Few deals reported

in kerb trade

RECORDER REPORT

KARACHI: The official spot rates were not issued on the weekend session on Thursday for the second day running due to protest strike called by the MQM.

However, few deals again came to notice in the kerb on Thursday.

Asking rates for buying cotton remained on the higher side, between Rs.2200 and Rs.2300.

The bull run is somewhat surprising since otton yield is much above domestic needs. But for the over 2.3 million bales exports, spinners are thinking of import a sizeable quantity.

Meanwhile, exports of cotton to Bangladesh cancelled due to disturbed conditions there have been since revalidated around 88 to 90 cents a pound against the previous 82 to 84 cents.

Following deals reported on Thursday; 1000 from Chattar, 500 from Bahawalpur at Rs.2260, 730 from Rahimyar Khan at Rs.2300, 700 from Multan and 1200 from Vehari done at Rs.2300.