KARACHI, Dec 7: The cotton market maintained easier conditions for second consecutive day on Tuesday as spinners and exporters restricted their buying to only near-future commitments.

Floor brokers said that there was general feeling that no body wanted to block huge funds ahead of long closures of the markets and preferred to stay away. Barring few needy spinning mills and exporters the market lacked the buying interest.
The phutti (seed cotton) prices stood in the range of Rs3,900 to Rs4,100 per 40-kg and the Karachi Cotton Association (KCA) further cut in spot rates by Rs400 to Rs9,320 per maund.

On ready counter moderate business activity was witnessed with most of the deals were finalised in the range of Rs9,000 to Rs9,300.

The Karachi Cotton Association reported following notable deals on Tuesday evening: 1,000 bales from Sanghar at Rs8,900 to Rs9,000, 1,000 bales from Nawabshah at Rs9,000, 1,000 bales Shahdadpur at Rs9,000, 1,000 bales from Khairpur at Rs9,200 to Rs9,500.

Around 1,200 bales from upper Sindh were done at Rs9,200 to Rs9,500, 1,200 bales from Ali Pur at Rs9,300 to Rs9,500, 2,000 bales from Khanpur at Rs9,500, 1,000 bales from Haroonabad at Rs9,200 to Rs9,300, 2,000 bales from Rahim Yar Khan at Rs9,000 to Rs9,200.

And 1,400 bales from Chichawatni changed hands at Rs9,000 to R9,200 and 1,000 bales from Burewala at Rs9,000 to Rs9,100.