KARACHI: Dwindling activity on cotton market kept prices under pressure on Friday as spinners generally preferred to defer buying ahead of Ashura closure.

Lower prices prevailed on the global markets and influenced trading pat-terns. However, New York cotton, after staying easy throughout the week, slightly recovered.

Spinners were cautious in building up their stocks owing to slow off-take of yarn and fabric while ginners on their part were worried about increasing cotton inventories and stayed away f rom purchasing more phutti (seed cotton).Insect and pest attacks on standing cotton crop in Punjab and Sindh are a matter of concern as these could directly impact crop size.

The Karachi Cotton Association (KCA) spot rates were firm at overnight level and trading volume remained moderate.

The following major deals were reported to have changed hands on ready counter on Friday: 4,000 bales, Khairpur, at Rs6,075 to Rs6,125; 1,400 bales, Mianwali, at Rs6,125 to Rs6,150; 400 bales, Burewala, at Rs6,150; 400 bales, Taunsa, at Rs6,150; 400 bales, Kassowal, at Rs6,150; 400 bales, Jehanian, at Rs6,150; 400 bales, Layyah, at Rs6,150; and 800 bales, Khanewal, at Rs6,150 to Rs6,200.