AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

Rates of cotton showed further increase on the local market on strong demand by small mills, dealers said on Thursday. The official spot rate was up by Rs 50 to Rs 8750, they added. In the ready session, about 6000 bales of cotton changed hands between Rs 8600-9500, they said. According to the market sources, recent rise in interest rate and unprecedented increase in dollar rate pushed the rates of all essential higher, including cotton and textile products.
Cotton analyst, Naseem Usman said that after sharp decline in the value of rupee, the local currency has halted slide in it's value versus the dollar, which may help in stabilising rates of all commodities. The government has withdrawn subsidy facility from textile sector, which is creating problem for cotton traders, other experts said.
Adds Reuters: Cotton prices extended losses on Wednesday as China and the United States battled tit-for-tat in their long-drawn trade tiff and as favourable planting weather in parts of Texas promised larger crop harvests. Cotton contracts for July settled down 0.57 cent, or 0.85%, at 66.75 cents per lb. It traded within a range of 66.12 and 67.45 cents a lb.
Total futures market volume fell by 2,799 to 20,978 lots. Data showed total open interest gained 1,164 to 215,527 contracts in the previous session. Following deals were reported: 2000 bales of cotton from Dherki at Rs 8850, 400 bales from Dherki at Rs 9500, 1000 bales from Sadiqabad at Rs 8950, 1000 bales from Khanewal at Rs 8600 and 1600 bales from Rahim Yar Khan at Rs 8800, they said.



===========================================================================
The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
---------------------------------------------------------------------------
FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
===========================================================================
Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference
For Price Ex-Karachi Ex. KHI. As Ex-Karachi
on 22-05-2019
===========================================================================
37.324 kg 8,750 160 8,910 8,860 + 50/-
Equivalent
40 kgs 9,377 171 9,548 9,495 + 53/-
===========================================================================

Copyright Business Recorder, 2019

Comments

Comments are closed.