Bombay, Aug. 7.
Continued covering by shorts for speculative account and the disinclination on the part of operators to trade in a bear market below 200 rupees, coupled with reports of damaging rains in most cotton districts contributed to the prevailing steadiness in the Bombay cotton market.
Export demand, on the whole, has been slow, although Japan was more interested, especially for the new crop.
The spot market was quiet, but the basis was steady.
Domestic cloth sales were distinctly quieter, owing to freer offerings by Japan, who cancelled large orders to
Text read from the printed page and cleaned; old type leaves the occasional error.