Buyers consolidate long positions during trading at lint market

Buyers consolidate long positions during trading at lint market



KARACHI: Buyers strengthened their long positions during trading session at lint market. Physical prices remained favourable for buyers to obtain their deals matured. Around 1,260 cotton bales changed hands in a range between Rs 6,000 per maund to Rs 6,650 per maund in parts of Sindh and Punjab stations.

Ex-gin price per maund cotton remained at Rs 6,050 per maund and equivalent to around at Rs 6,507 per 40 kilogrammes. Arrival of seed cotton in Sindh and Punjab stations remained moderate, fibre traders said.

Dollar closes even versus rupee: Greenback closed flat in value versus domestic unit in interbank as it was traded at 105.35 for buying and at Rs 105.55 for selling. Pound Sterling gained value by 32 paisas versus rupee and closed at Rs 139.10 for buying and closed at Rs 139.30 for selling while euro also closed firm by 23 paisas versus rupee and closed at Rs 126.17 for buying and at Rs 126.37 for selling in interbank trading.

In kerb market, dollar shed value versus rupee by 25 paisas to close at Rs 106.75 for buying and at Rs 106.95 for selling. Pound closed firm at Rs 138.10 for buying and at Rs 138.30 for selling, gaining 35 paisas. Euro remained depressed in value and closed at Rs 125.05 for buying and at Rs 125.25 for selling after losing 15 paisas.

Gold price regains strength on demand: Yellow metal traders said that gold prices in international and domestic markets recovered strength on Gold Futures and hedgers’ interest. International price witnessed a raise of $7 an ounce to stay at $1,333 an ounce while in domestic bullion market price increased by Rs 281 a tola to stay at Rs 52,665 per tola and in ten grams term, price closed at Rs 45,200 with a increase of Rs 242 per ten grams.