KARACHI, Sept 1: Firm trend was again witnessed on the cotton market on Monday as prices remained stable around the weekend levels amid a briskly traded session.

Later in the evening, 6,000 and 3,000 bales from Shahdadpur and Tando Adam ginneries were traded further higher at Rs4,200 per maund, indicating pressure on mill stock positions.

About 30,000 bales including some big lots changed hands notably in the Sindh type as the major buying thrust again remained confined to it.

While Sindh type was traded as higher as Rs4,150, Rs25 higher against the previous closing rates because of better quality, its Punjab counterpart was traded as lower as Rs4,050, which was said to be an average rate for the session’s tally, floor brokers said.

They said price differential reflected that the Punjab variety is damaged in patches or in some areas the damage caused by the pest attack.

However, the quality situation will be clear after the picking operations in the major cotton areas notably southern Punjab and upper Sindh cotton belts are resumed, they said.

Although spraying operations by the growers are being carried out on war-footing basis in the affected areas, the total control still appears hard to be achieved, they added.

Meanwhile, private sector exporters are active buyers against their forward sales, notably to India, which is one of the factors behind the current market stance.

Official spot rates were firmly held at the last close of Rs4,075 per maund but in the ready section bulk of the mill intake was quality based.

The following notable deals were reported on Monday evening:

SINDH TYPE: 4,000 bales, 3,000, 3,000, 800, 800, 800, 400 and 800 bales, Shahdadpur, Tando Adam, Sangar, Hala, New Saeedaba, Jhole, Sinjoro and Nawabshah at Rs4,125 to Rs4,150, 200 bales, Pithoro at Rs4,120, 2,000 bales, each Mirpurkhas and Hyderabad at Rs4,100 to Rs4,150.

PUNJAB TYPE: 200 bales, each Arifwala, 600 bales and 800 bales, Kabirwala, Chichawatni and Mian Channu at Rs4,100, 400 bales, Pak Patten at Rs4,075, 800 bales, Haroonabad at Rs4,090 to Rs4,100, 400 bales, Bahawalnagar at Rs4,050 to Rs4,100, 400 bales, Khanewal at Rs4,150 and 800 bales and 800 bales, Burewala at Rs4,075 to Rs4,100.