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The rupee finished at Rs 84.38 versus the dollar this evening, down 1 paisaToday, on November 8, the Sensex closed 55 points lower at 79,486, while the Nifty ended 51 points lower at 24,148. Out of 30 Sensex stocks, 16 declined and 14 rose. Similarly, out of 50 Nifty stocks, 27 declined.Read More :-  Cotton Prices Soar to ₹7,500 as Cotton Corporation of India Begins Procurement at Bhikangaon Mandi

Cotton Corporation of India Starts Procurement at Bhikangaon Mandi, Raising Cotton Prices to ₹7,500Bhikangaon Mandi witnessed a surge in cotton prices on Thursday, reaching a high of ₹7,500 per quintal, much to the delight of local farmers. The increase follows the commencement of cotton procurement by the Cotton Corporation of India (CCI) at the minimum support price (MSP).On its first day, CCI’s purchases were limited, with only two farmers managing to sell their produce. JP Singh, a CCI official, emphasized the need for farmers to register their cotton at the mandi to be eligible for MSP procurement.The registration process has been simplified, requiring only an Aadhaar card, a bank account, and a mobile number linked to Aadhaar. The mandi was bustling with activity as more cotton deliveries poured in. According to Mandi Secretary Rachna Tikkekar, 185 bullock carts and 155 vehicles arrived with fresh cotton loads.The price range for the day showed a maximum of ₹7,500 per quintal, a minimum of ₹5,558, and an average (model) price of ₹6,781. Local farmers like Jitendra Sejgaya and Rajendra Rathore expressed optimism, hoping that CCI’s involvement would bring price stability and better returns for their crops.CCI is currently procuring cotton with moisture content between 8% and 12%, offering rates from ₹7,421 to ₹7,124 per quintal, according to JP Singh. Mandi Secretary Tikkekar assured farmers that daily arrivals will be registered promptly, ensuring a smooth selling process.Read More :> Cotton Yarn Prices Drop by Rs 10/kg, Boosting Confidence in Rs 40,000 Crore Export Target

Early trading saw the rupee drop 5 paise to its lowest point ever, 84.37 against the US dollar.The rupee recovered from its all-time low level and witnessed a range-bound trade against the US dollar in early hours on Thursday, as investors remained cautious ahead of the US Fed meeting outcome later this week.READ MORE :>High Moisture Content Sparks Concerns for Cotton Farmers in Indian States  

The rupee ended the day 9 paise worse against the dollar, closing at Rs 84.37After two days of strength in the stock market, selling was seen once again on Thursday. During this period, the Sensex fell 836.34 points to close at 79,541.79. On the other hand, the Nifty fell 284.70 points to reach 24,199.35.Read More :-  Cotton Yarn Prices Drop by Rs 10/kg, Boosting Confidence in Rs 40,000 Crore Export Target

In early trading, the rupee climbs 5 paise to 84.26 against the US dollar.Sensex drops 800 pts to 79,600; Nifty down at 24,250; Metal, Bank drag At around 10 AM, the BSE Sensex was 844 points, or 1.05 per cent lower, at 79,533, and the Nifty 50 was at 24,221, down 262 points, or 1.07 per cent.Read More :> Demand for ban on cotton import, farmers fear loss due to decrease in production

The rupee ended the day 18 paise down against the dollar, closing at 84.28The BSE Sensex rose 901.50 points or 1.13 percent to close at 80,378.1 points. The NSE Nifty also rose 270.75 points or 1.12 percent to close at 24,484.05 points.Read  More :- Demand for ban on cotton import, farmers fear loss due to decrease in production

Early trading sees the rupee drop 14 paise to its lowest point ever, 84.23 against the US dollar.Sensex reclaims 80,000, Nifty 50 above 24,400 led by IT, banks, auto stocksSensex today extended rally with gains of over 600 points and reclaimed the 80,000-mark, amid positive global market cues. Nifty 50 also traded above 24,400 level led by gains across the board. Midcap and Smallcap indices rallied over 1% each.Read More :>Cotton Yarn Prices Drop by Rs 10/kg, Boosting Confidence in Rs 40,000 Crore Export Target

The rupee strengthened by 1 paisa to close at 84.10 against the dollar this evening.The 30-share BSE benchmark Sensex closed 694 points, or 0.88%, higher at 79,476. The broader NSE Nifty rose 218 points, or 0.91%, to close at 24,213. During the day, both the Nifty and Sensex fell up to 0.6%.Read more:- Demand for ban on cotton import, farmers fear loss due to decrease in production

The Rs 40,000 Crore Export Target Gains Confidence as Cotton Yarn Prices Drop by Rs 10/kgThe price of cotton yarn used in knitwear production decreased by Rs 10 per kilogram on Monday, bringing optimism among exporters as New Year and Christmas orders start pouring in. Exporters see this price reduction as a boost for both domestic production and exports, aligning with their goal of achieving the Rs 40,000 crore export target.On Monday, spinning mills announced a price cut of Rs 10 per kg for all counts of cotton yarn used in knitwear. For instance, 20s kh (18.5 count) yarn dropped from Rs 220 to Rs 210 per kg, while 40s kh (38.5 count) decreased from Rs 248 to Rs 238. This price adjustment has been well-received by knitwear manufacturers in Tiruppur.KM Subramanian, president of the Tiruppur Exporters Association, stated, “The reduction in cotton yarn prices will aid growth in domestic production and exports, especially as cotton prices have settled at Rs 56,000 per candy. This price drop will support our efforts to achieve the Rs 40,000 crore export target for this year.”MP Muthurathinam, president of the Tiruppur Exporters and Manufacturers Association, highlighted that orders for New Year and Christmas are already coming in, with inquiries from Bangladesh as well. "Bangladesh had been hesitant due to our higher prices, but with this reduction, we can now capture more of these orders," he explained.Reflecting on recent market trends, he added, “Domestic orders before Deepavali were promising, but sales did not meet expectations afterward. We now hope that Christmas and New Year export orders will improve the situation, and this yarn price reduction will be a key factor. Yarn prices have held steady this year without any hikes.”Industry sources revealed that yarn prices have seen three reductions this year: a Rs 20/kg drop in January, another Rs 20/kg decrease in June, and now this recent Rs 10/kg cut in October.Read More :-  Demand for ban on cotton import, farmers fear loss due to decrease in production

In relation to the US dollar, the rupee hits its lowest point ever, 84.13. The rupee on Monday fell 4 paise to a record low of 84.11 against the US dollar, tracking a weak trend in domestic equities and relentless foreign capital outflows.Read More :> Demand for ban on cotton import, farmers fear loss due to decrease in production

In relation to the US dollar, the rupee dropped 4 paise to its lowest point ever, 84.11At the close of trading, the BSE Sensex fell 941.88 points or 1.18 per cent to close at 78,782.24. The NSE's 50-share index, Nifty, fell 309 points or 1.27 per cent to close at 23,995.35.Read More :- Demand for ban on cotton import, farmers fear loss due to decrease in production