AGL 38.50 Increased By ▲ 0.02 (0.05%)
AIRLINK 199.99 Decreased By ▼ -3.03 (-1.49%)
BOP 9.95 Decreased By ▼ -0.22 (-2.16%)
CNERGY 6.40 Decreased By ▼ -0.14 (-2.14%)
DCL 9.35 Decreased By ▼ -0.23 (-2.4%)
DFML 39.55 Decreased By ▼ -0.47 (-1.17%)
DGKC 98.26 Increased By ▲ 0.18 (0.18%)
FCCL 35.56 Increased By ▲ 0.60 (1.72%)
FFBL 88.51 Increased By ▲ 2.08 (2.41%)
FFL 13.73 Decreased By ▼ -0.17 (-1.22%)
HUBC 128.90 Decreased By ▼ -2.67 (-2.03%)
HUMNL 13.95 Decreased By ▼ -0.07 (-0.5%)
KEL 5.43 Decreased By ▼ -0.18 (-3.21%)
KOSM 7.45 Increased By ▲ 0.18 (2.48%)
MLCF 45.40 Decreased By ▼ -0.19 (-0.42%)
NBP 60.51 Decreased By ▼ -5.87 (-8.84%)
OGDC 217.20 Decreased By ▼ -3.56 (-1.61%)
PAEL 40.30 Increased By ▲ 1.82 (4.73%)
PIBTL 8.58 Decreased By ▼ -0.33 (-3.7%)
PPL 194.95 Decreased By ▼ -2.93 (-1.48%)
PRL 38.92 Decreased By ▼ -0.11 (-0.28%)
PTC 25.59 Increased By ▲ 0.12 (0.47%)
SEARL 105.69 Increased By ▲ 2.64 (2.56%)
TELE 8.85 Decreased By ▼ -0.17 (-1.88%)
TOMCL 36.30 Decreased By ▼ -0.11 (-0.3%)
TPLP 13.89 Increased By ▲ 0.14 (1.02%)
TREET 24.78 Decreased By ▼ -0.34 (-1.35%)
TRG 57.87 Decreased By ▼ -0.17 (-0.29%)
UNITY 33.33 Decreased By ▼ -0.34 (-1.01%)
WTL 1.64 Decreased By ▼ -0.07 (-4.09%)
BR100 11,807 Decreased By -82.9 (-0.7%)
BR30 36,765 Decreased By -591.7 (-1.58%)
KSE100 110,108 Decreased By -962.3 (-0.87%)
KSE30 34,625 Decreased By -283.7 (-0.81%)

Thin trading was seen on the cotton market on Saturday after the issuance of Pakistan Cotton Ginners Association (PCGA) data, dealers said. The PCGA report showed better-than-expected cotton production figures, and this factor might push the prices further down, market players said. The official spot rate of grade 3 cotton was unchanged at Rs 1825 without upcountry expenses. Cotton prices tended lower both in Sindh and Punjab.
Seed-cotton followed suit and shed modestly due to higher cotton production report.
NY cotton futures dropped sharply on speculative fund sales, and the market was seen dropping more next week on the back of follow-through pressure in fibre contracts. Key March contract sank 1.20 cents to finish at 42.42 cents a lb, after dealing between 42 and 43.70 cents. Spot December slid 2.15 to 45.25 cents a pound. Losses in back months ranged from 0.30 to 0.70 cent.
Following deals were reported: 4000 bales from Multan done at Rs 1875-1885; 2000 bales from Rahimyar Khan at Rs 1885-1900; 1000 bales from Sadiqabad at Rs 1875; and 1000 bales from Gojra at Rs 1850.



===========================================================
The KCA Official Spot Rate for Local Dealings in Pak Rupees
-----------------------------------------------------------
FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
===========================================================
Rate Ex-Gin Upcountry Spot Rate Ex-Karachi
for Price Sales Tax @ 15%
===========================================================
37.32 Kgs 1825.00 50 1875.00
Equivalent-------------------------------------------------
40 Kgs 1956.00 50 2006.00
===========================================================

Copyright Business Recorder, 2004

Comments

Comments are closed.