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Byline: RECORDER REPORT
Subdued business was seen on the cotton market on Thursday in the absence of fresh leads, dealers said. The Karachi Cotton Association (KCA) official spot was unchanged at Rs 6700, they said. In the ready business only a deal of 1059 bales from Nawabshah was done at Rs 6750, they said.
Market sources said that the cotton circle was expecting some positive outcome from the textile stakeholders' meeting with the federal textile minister. A body has been formed to tackle the shortage problem and then any outcome of the meeting will come up. In the meantime, the prices are still on upward march and may go up further in the coming days, they added. …