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Prices depict rising trend on cotton market
KARACHI (April 22
2004): Fresh trading report was not available from
brokers who could not be contacted despite hectic
efforts on Wednesday.
The spot rate of grade III cotton was raised by Rs
25 to Rs 2850 without ST and upcountry expenses.
Rising trend discouraged spinners to buy cotton
but they kept a watch on fluctuations to lift
cotton at lower rates.
Trading in ready was not reported.
The cotton futures in New York were sharply down.
May shed 0.71 cent to 61.50 cents and July lost
0.87 cent to 61.84 cents a pound.
However, two deals were reported in DMR, as
finalised on Tuesday. One was of 400 bales of
Khumb at Rs 2800 while the other had already been
published in Wednesday's issue.
Courtesy Business Recorder |
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Pakissan.com; Advisory Point
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