Rupee opens 35 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a gain of 35 paise at Rs 75.30 against the dollar. At the same time, on Thursday, the rupee closed at Rs 75.65 with a weakness of Rs 1.10 against the dollar.
Uber Sensex opens up 947 points due to Russia-Ukraine disputeThe stock market opened sharply today, just the day after the Russia and Ukraine dispute. On the other hand, yesterday the Indian stock market closed with a record fall. Today the BSE Sensex opened with a gain of 947.34 points at the level of 55477.25 points.
All India weather forecast for February 25, 2022Weather systems made across the countryThe Western Disturbance is over Jammu and Kashmir and adjoining parts of Ladakh.The Cyclonic Circulation lies over South-East Rajasthan.A trough is extending from a cyclonic circulation over East Rajasthan to Bihar across Madhya Pradesh and Southeast Uttar Pradesh.Another cyclonic circulation is over East Bangladesh.A Cyclonic Circulation is persisting over Comorin region and adjoining parts.A fresh Western Disturbance will approach the Western Himalayas by the evening of February 25.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain and snowfall occurred over parts of Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, Ladakh and Himachal Pradesh and heavy snowfall at one or two places.Light rain and snowfall occurred in Uttarakhand.Light rain occurred in some parts of South Tamil Nadu and Kerala. And light rain was observed at one or two places over Gangetic West Bengal and Andaman and Nicobar Islands.In Punjab, Haryana, Delhi, parts of Rajasthan and Gujarat, the minimum temperature has dropped by 2 to 3 degrees.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain and snowfall with one or two heavy spells is likely to continue over Western Himalayas today on February 24 and rain and snow at few places on February 25 and 26.Light rain is very likely over northern parts of Punjab, North Haryana, Northwest Uttar Pradesh and North Chhattisgarh, Bihar, Jharkhand and West Bengal.Moderate rain is possible at one or two places over Sikkim, parts of Assam, Arunachal Pradesh and Nagaland.Light rain is possible at one or two places over South Tamil Nadu, Kerala and southern parts of Andaman and Nicobar Islands.
Today evening, the rupee closed at Rs 75.65 with a weakness of Rs 1.10 against the dollar.Sensex devastated in Russia-Ukraine war, loses 2702 points Due to the Russo-Ukraine war, there was devastation in the Indian stock market today. Today the stock market has closed with a huge fall. Today, where the Sensex closed at a level of 54529.91 points, down by about 2702.15 points. On the other hand, Nifty closed at the level of 16248.00 points down by 815.30 points.
Relentless rise in cotton prices a hurdle to textile exports revivalIf India’s exports of textiles and garments recovered quickly this fiscal from the lows of the pandemic-hit FY22, lucrative orders may elude them in FY23 due to an inexorable rise in the prices of cotton, a key raw material, and its yawning shortage in the domestic market. While shipments continue to be strong due to orders won earlier, the spectre of a slump in exports is staring at textile and garment firms as new orders are hard to come by. This is at a time when the global markets are vibrant and poised to remain so in the near term, thanks to industrial resurgence in key markets like the US and European Union.Conventionally, during the January-February period, mandi arrivals of cotton peak and remain in the range of Rs 2.5-3 lakh bales (one bale is 170 kg), but this year has been quite an exception. According to trade sources, cotton arrivals in markets across key producing states – Telangana, Andhra Pradesh, Karnataka, Gujarat, Maharashtra, Madhya Pradesh, Haryana, Punjab and Rajasthan – have seldom crossed Rs 1.5 lakh bales in last the two months. And prices are skyrocketing – in many key markets these are ruling at three times the minimum support price – given the estimate an year-on-year decline in the production of the key natural fibre. There are also unconfirmed reports of farmers resorting to hoarding stocks, in anticipation of a further rise in prices.In fact, an up to 80% spurt in cotton prices in the past one year has pressured margins of textile and garment firms. Most firms are struggling to pass on the rise in raw material costs to consumers. Yet, India’s exports of textiles, garments and allied products jumped 52% until December this fiscal from a year before to $31 billion, albeit on a sharply-contracted base.This has forced the manufacturers across the textile value chain – from spinning mils and weaving units to garment makers –to seek the abolition of an import duty on cotton (effectively to the tune of 11%, including cesses) and the creation of a strategic reserve of about 10-15% of market supplies by the government to help stabilise prices.RS Jalan, managing director at GHCL Ltd, told FE that while high cotton prices will help farmers and somewhat boost rural disposable income, from the textile industry’s perspective, they have created a challenge for the entire value chain as “it is difficult to pass on the cost to the consumer”. “Also, the duty imposed on imported cotton is making India non-competitive in the global markets, which will surely be counter-intuitive in the long run,” Jalan said.Narendra Goenka, managing director of Texport Industries and chairman of the state-backed Apparel Export Promotion Council (AEPC), apprehended that it would be difficult to maintain a high export growth rate in the next fiscal. “Overseas buyers have started scouting for alternate destinations to broaden their supply base for fear that elevated input costs in India would push up prices of garments,” he said. Apparel companies, in such a scenario, may be forced to absorb much of the rise in costs themselves, he added.Raja M Shanmugham, managing director of Warshaw International and president of the Tirupur Exporters’ Association, said the relentless rise in cotton prices over the past 15 months has made it difficult for companies to honour orders, typically booked 3-6 months before, without taking a massive hit on their balance sheets. “We are also finding it difficult to change the price tags of products so frequently. Our cash flow has been hit very badly. Moreover, the garment industry is dominated by MSMEs, whose capacity to absorb inputs cost pressure is even more limited. So, we are requesting finance minister Nirmala Sitharaman to raise the individual loan limit under the Rs 4.5-lakh-crore guaranteed loan scheme by up to 20% to help the MSMEs cope with their liquidity issue,” Shanmugham said.According to second advance estimates of cotton production by the ministry of agriculture, the country’s cotton output is estimated to decline by more than 3% to 34 million bales in the 2021-22 crop year from 35 million bales in the previous year.Anand Poppat, a cotton trader based out of Rajkot says that the while market arrivals are low, there is an increasing trend of traders directly picking up raw cotton from farmers as they save on mandi taxes, transport and labour charges.India’s cotton prices are also impacted by global supply situations. International cotton prices have risen to 120 cents per pound in the 2021-22 cotton season (October-September) as against 85 cents per pound in the previous season since the crop size in USA and other markets has reduced.Pradeep Kumar Agrawal, chairman and managing director of Cotton Corporation of India (CCI), the agency which procured 95 lakh bales in 2019-20 and 105 lakh bales in 2020-21 at MSP, says that the agency has not had to intervene in the market this year as prices remained above the MSP levels.Seeking the intervention of Prime Minister Narendra Modi to come to the rescue of the labour-intensive industry, T Rajkumar, director of Sakthi Group and chairman of the Confederation of Indian Textile Industry, has asserted that the removal of the import duty on cotton won’t hurt farmers. This is because the industry has been predominantly importing speciality cotton, including extra-long staple cotton, to meet the needs of certain niche segments of buyers on a long-term basis, he added.Spot prices of cotton were in the range of Rs 15,000–Rs 15,400 a quintal as against the minimum support prices of Rs 5,726/quintal (medium variety) and Rs 6,025/quintal (long staple). The price of ICS-105 variety of cotton in largest producing state of Gujarat were ruling at Rs 77,000 per candy of 356 kg each, up as much as 70% from a year earlier, according to the Cotton Association of India data. In case of some other varieties, the rise is about 80% over the past year.Cotton ginners are also bearing the brunt of rise in prices of the fibre. “It has become difficult for ginning units to run business, says Pradeep Jain, president, Khandesh Gin/Press Factory Owners Association. Maharashtra has around 800-1000 ginning units that are currently running at 50-60% capacity and many of these may have to shut down soon, BS Rajpal, president, Maharashtra Cotton Ginners Association said.
Rupee breaks 60 paise against dollar due to Russia's attack on UkraineDue to the attack on Ukraine by Russia, the rupee opened with weakness against the dollar in the foreign exchange market today. Today the rupee opened with a weakness of 60 paise at Rs 75.16 against the dollar. At the same time, the rupee on Wednesday closed at Rs 74.56 with a gain of 32 paise against the dollar.
The stock market crashed in Russia-Ukraine dispute, Sensex fell 1814 pointsStock markets around the world fell sharply today due to Russia's announcement of an attack on Ukraine. It also had its impact on the Indian markets today and the stock market opened with a heavy fall. Today the BSE Sensex fell by 1813.61 points to open at the level of 55418.45 points.
All India weather forecast for February 24, 2022Weather systems made across the countryThe Western Disturbance is over Jammu and Kashmir and adjoining parts of Himachal Pradesh.The Induced Cyclonic Circulation lies over West Punjab and adjoining Pakistan.A Cyclonic Circulation is persisting over Bangladesh and adjoining areas.A fresh Western Disturbance will reach Western Himalayas on February 25.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain and snowfall occurred over upper parts of Gilgit-Baltistan, Muzaffarabad, Ladakh, Jammu and Kashmir and Himachal Pradesh.Light rain and snowfall occurred in Uttarakhand.There was scattered light rain in Kerala.Minimum temperatures have increased over eastern parts of Punjab, Haryana, Delhi, Uttar Pradesh and Madhya Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls very likely over Western Himalayas today. The intensity of rain and snowfall will reduce from February 24 but moderate snowfall at some places with light rain and snowfall is likely to continue till February 26 over western Himalayan states.On February 24, isolated light rain is possible over Bihar, West Bengal, Sikkim and parts of Northeast India.Light rain is likely over Jharkhand, Orissa, Chhattisgarh, Punjab, Haryana, Delhi, North Rajasthan as well as parts of West Uttar Pradesh on February 25.
The rupee strengthened by 32 paise to close at Rs 74.56 against the dollar.Today the stock market closed with a fall.Today, where the Sensex closed at the level of 57232.06 points with a fall of 68.62 points. On the other hand, Nifty closed at the level of 17063.30 points down by 28.90 points.
Cotton futures rise by Rs 270 after nearly 5% fall in a weekPrices for cotton futures, deliverable in March, gained about a per cent in Mumbai trading on Wednesday. This comes after a nearly 5 per cent drop since February 11 when it hit a recent high.On MCX, the commodity traded at Rs 37,290 per bale, up Rs 270 or 0.73 per cent compared to last close. It had hit a high of Rs 38,870 on February 11 but has been in a downtrend since then.Analysts said record rally in ICE Cotton prices, falling global cotton stocks, lower Indian cotton crop/stock revision by USDA & CAI, retrenched selling by farmers and strong demand by domestic millers had lifted domestic cotton futures to record high level last week.“However, increased geo-political tension in the global market amid Russia-Ukraine impasse, demand rationalization after 10 straight weeks of one-side rally and drop in ICE Cotton futures may keep domestic cotton prices under check in coming sessions,” said Mohit Vyas of Kotak Securities.Kotak Securities said supports for the commodity stands at Rs 36,025, Rs 36,548 and Rs 37,195, while resistances at Rs 38,365, Rs 38,888 and Rs 39,535. It said if the counter breaks out above Rs 38,074, it can hit a high of Rs 38,611. On the other hand, if it falls below Rs 36,787, it can plunge up to Rs 36,249.
Sensex rises, opens up 272 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 272.37 points to open at the level of 57573.05.
Rupee opens 20 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 20 paise at Rs 74.67 against the dollar. At the same time, on Tuesday, the rupee closed at Rs 74.87 with a loss of 38 paise against the dollar.
All India weather forecast for February 23, 2022Weather systems made across the countryA Western Disturbance is persisting over North Pakistan adjoining Jammu and Kashmir.The Induced Cyclonic Circulation lies over South Pakistan and adjoining Southwest Rajasthan.A Cyclonic Circulation is persisting over Bangladesh.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain and scattered snowfall occurred over Jammu and Kashmir.Light to moderate rain occurred over Meghalaya and Nagaland.Rest of Northeast India received light rain.Scattered light rain occurred over southern parts of Andaman and Nicobar Islands.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls is very likely over Western Himalayas till February 23 and it may decrease thereafter.Light rain may occur over parts of Punjab, Haryana and isolated parts of Delhi NCR.Light rain is possible over southern parts of Andaman and Nicobar Islands, Arunachal Pradesh, South Tamil Nadu and Kerala.
Today evening, the rupee depreciated by 38 paise to close at 74.88 against the dollar.Today, due to the Russia-Ukraine dispute, the stock market closed with a fall. Although at one time the Sensex had broken more than 1000 points, but in the end today where the Sensex fell by about 382.91 points and closed at the level of 57300.68 points.On the other hand, Nifty closed at the level of 17092.20 points down by 114.50 points.
Stock market plunged in Russia Ukraine dispute, Sensex lost 1287 pointsToday the stock market opened with a heavy fall due to Russia Ukraine dispute. Today the BSE Sensex fell by about 1287.34 points and opened at the level of 56396.25 points.
Rupee depreciates against dollar, opens 20 paise weakerRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 20 paise at Rs 74.70 against the dollar. At the same time, the rupee on Monday gained 16 paise to close at Rs 74.50 against the dollar.
All India weather forecast for February 22, 2022Weather systems made across the countryA trough is extending from East Bihar to South Coast of Orissa.A fresh Western Disturbance is expected to approach the Western Himalayas on February 22.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain and thundershower occurred over southern parts of Andaman and Nicobar Islands, Coastal Odisha, Sikkim and Northeast India.Light rain occurred over East Bihar, parts of Jharkhand and Interior Odisha.Light rain occurred in Chhattisgarh.Weather activity likely during next 24 hoursThere is a possibility of light to moderate rain and snowfall in Arunachal Pradesh during the next 24 hours.On February 21, scattered rain may occur over rest of Northeast India and some parts of Western Himalayas.Rain and snowfall may increase in the Western Himalayas between February 22 and 24. On February 22 and 23, there may be scattered heavy snowfall over the hills.Scattered rains are possible over parts of Punjab, Haryana, Delhi, Sub-Himalayan West Bengal and Sikkim.Rain will start over East Madhya Pradesh, Chhattisgarh, Jharkhand, Bihar and parts of West Bengal on February 24 and may continue till February 25.
Rupee strengthened by 16 paise to close at Rs 74.50 against dollar today evening.Today the closing took place with a fall in the stock market.Today, where the Sensex fell by about 149.38 points, it closed at the level of 57683.59 points. On the other hand, Nifty closed at 17206.70 points down by 69.60 points.
Rupee opens 16 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 16 paise at Rs 74.50 against the dollar. At the same time, the rupee on Friday closed at Rs 74.66 with a gain of 45 paise against the dollar.
As soon as the Sensex opened, 361 points also fell.Today the stock market opened with a fall. Today the BSE Sensex fell by about 360.95 points and opened at the level of 57472.02 points.
| title | Created At | Action |
|---|---|---|
| Rupee opens 35 paise stronger against dollar | 25-02-2022 10:51:09 | view |
| Uber Sensex opens up 947 points due to Russia-Ukraine dispute | 25-02-2022 10:50:47 | view |
| Weather systems made across the country | 25-02-2022 07:46:22 | view |
| Today evening, the rupee closed at Rs 75.65 with a weakness of Rs 1.10 against the dollar | 24-02-2022 16:35:51 | view |
| Relentless rise in cotton prices a hurdle to textile exports revival | 24-02-2022 11:11:51 | view |
| Rupee breaks 60 paise against dollar due to Russia's attack on Ukraine | 24-02-2022 11:11:00 | view |
| The stock market crashed in Russia-Ukraine dispute, Sensex fell 1814 points | 24-02-2022 11:10:27 | view |
| All India weather forecast for February 24, 2022 | 24-02-2022 07:44:54 | view |
| The rupee strengthened by 32 paise to close at Rs 74.56 against the dollar | 23-02-2022 16:29:06 | view |
| Cotton futures rise by Rs 270 after nearly 5% fall in a week | 23-02-2022 15:02:03 | view |
| Sensex rises, opens up 272 points | 23-02-2022 10:40:29 | view |
| Rupee opens 20 paise stronger against dollar | 23-02-2022 10:39:47 | view |
| All India weather forecast for February 23, 2022 | 23-02-2022 10:05:22 | view |
| Today evening, the rupee depreciated by 38 paise to close at 74.88 against the dollar | 22-02-2022 16:19:18 | view |
| Stock market plunged in Russia Ukraine dispute, Sensex lost 1287 points | 22-02-2022 10:32:48 | view |
| Rupee depreciates against dollar, opens 20 paise weaker | 22-02-2022 10:32:40 | view |
| Weather systems made across the country | 22-02-2022 07:50:46 | view |
| Rupee strengthened by 16 paise to close at Rs 74.50 against dollar today evening | 21-02-2022 16:09:37 | view |
| Rupee opens 16 paise stronger against dollar | 21-02-2022 10:27:05 | view |
| As soon as the Sensex opened, 361 points also fell | 21-02-2022 10:10:24 | view |
