Recent News

Rupee fell 7 paise to close at 82.99 against US dollarThe Indian rupee closed 7 paise lower against the US dollar on Wednesday due to the strong US currency and rise in crude oil prices overseas. The local currency closed at 82.99 per dollar compared with 82.92 per dollar.Sensex rises, closes 246 points higherToday the stock market closed with a rise. Today the Sensex closed at 67466.99 points with a rise of 245.86 points. Whereas Nifty closed at the level of 20070.00 points with a gain of 76.80 points.

Pakistan: KCA increases spot rate to Rs 18,500 per maundLAHORE: The Spot Rate Committee of Karachi Cotton Association on Tuesday increased the spot rate by Rs 500 per maund and closed it at Rs 18,500 per maund. The local cotton market remained bullish and the trading volume was satisfactory.Cotton analyst Naseem Usman said that the rate of new crop of cotton in Sindh is Rs 18,500 to Rs 19,000 per maund. The rate of footi in Sindh is between Rs 8,500 to Rs 9,000 per 40 kg. Cotton rates in Punjab range between Rs 19,500 to Rs 20,000 per maund and footi rates in Punjab range between Rs 8,500 to Rs 9,000 per 40 kg. Cotton rates in Balochistan range from Rs 18,500 to Rs 19,000 per maund while cotton rates range between Rs 8,500 to Rs 9,000 per 40 kg.1600 bales of Khair Pur were sold at Rs 18,300 to Rs 18,500 per maund, 2400 bales of Saleh Pat were sold at Rs 18,400 to Rs 18,800 per maund, 600 bales of Rohri were sold at Rs 18,500 per maund, 1200 bales of Mir Pur Khas were sold at Rs 18,500 per maund. Rs 17,800 to Rs 18,200 per maund, 1200 bales of Shahdad Pur were sold at Rs 17,700 to Rs 18,050 per maund, 1400 bales of Tando Edam were sold at Rs 17,700 to Rs 18,050 per maund, 800 bales of Bahawalpur were sold at Rs 17,700 to Rs 18,050 per maund. 18,700 to Rs 19,000 per maund, 800 bales of Burewala were sold at Rs 18,500 to Rs 19,000 per maund, 2600 bales of Chichawatni were sold at Rs 18,500 to Rs 19,000 per maund, 600 bales of Donga Bonga were sold at Rs 18,800 per maund. Rs 19,000 per maund, 1200 bales of Fakir Wali were sold at Rs 18,800 to Rs 19,000 per maund, 800 bales of Gojra were sold at Rs 18,500 to Rs 18,800 per maund, 1400 bales of Harunabad were sold at the rate of Rs 18,800 to Rs 19,000 per maund. 600 bales of Kabirwala were sold at Rs 18,500 to 19,000 per maund, 300 bales of Khanewal were sold at Rs 19,000 to Rs 19,300 per maund, 400 bales of Kot Addu were sold at Rs 18,500 per maund, 800 bales of Laiya were sold at Rs 19,000 per maund. Rs 18,700 to Rs 19,200 per maund, 400 bales of Lodhran were sold at Rs 20,000 per maund, 400 bales of Mianwali were sold at Rs 19,000 per maund, 800 bales of Rahim Yar Khan, 400 bales of Chistian were sold at Rs 19,000 per maund. 200 bales of Shujabad were sold at Rs 18,500 per maund, 400 bales of Samundri were sold at Rs 18,500 per maund and 600 bales of Vehari were sold at the rate of Rs 18,800 to Rs 19,000 per maund.The Spot Rate Committee of Karachi Cotton Association increased the spot rate by Rs 500 per maund and closed it at Rs 18,500 per maund. Polyester fiber was available at Rs 378 per kg.

Rupee opens flat at 82.93 against the US dollarThe Indian rupee opened marginally lower against the US dollar on Wednesday amid a stronger greenback and a surge in crude oil prices. The local currency opened at 82.93 a dollar as compared to previous close of 82.92.Stock market starts falling, Sensex falls by 132 pointsToday started with a decline in the stock market. Today BSE Sensex opened with a fall of 131.58 points at the level of 67089.55 points. Whereas NSE's Nifty opened with a fall of 39.10 points at the level of 19954.10 points.

This evening, the rupee strengthened by 11 paise and closed at Rs 82.92 against the dollar.Today there was a rise in Sensex and fall in Nifty.There was mixed closing in the stock market today. Today Sensex closed at 67221.13 points with a gain of about 94.05 points. Whereas Nifty fell by 3.10 points and closed at the level of 19993.20 points.

Rupee rises 10 paise to 82.93 against US dollarThe rupee appreciated by 10 paise to 82.93 against the US dollar in early trade on Tuesday tracking positive trend in domestic equities and foreign fund inflows.Share market rises, Nifty opens above 20,000 points*Today the stock market started with a rise. Today BSE Sensex opened at 67431.42 points with a gain of about 304.34 points. Whereas NSE's Nifty opened with a gain of 78.70 points at the level of 20075.00 points.*

Pakistan: Minor business activities in cotton marketLahore: The local cotton market remained stable on Monday and the amount of business was low.Cotton analyst Nasim Usman said that the rate of new cotton crop in Sindh is Rs 18,000 to Rs 18,500 per mind. The rate of burst in Sindh is between Rs 8,000 to Rs 8,500 per 40 kg. Cotton rate in Punjab is between Rs 19,000 to Rs 19,500 per mind and the rate of burst in Punjab is between Rs 8,500 to Rs 9,000 per 40 kg. Balochistan has a cotton rate of Rs 18,000 to Rs 18,200 per mind while the rate of burst is between Rs 8,200 to Rs 9,500 per 40 kg.Nearly, 200 knots of Mir Pur Khas were sold at Rs 17,800 per mind, 400 lines of Lodharan were sold at Rs 20,000 per mind and Mian Channu's 200 knots were sold at Rs 19,000 per mind.The spot rate remained unchanged on Rs 18,000 per mind. Polyester fiber was available at Rs 378 per kg.

Rupee ends weaker despite yuan rally as oil companies, importers capture dollar dipThe Indian rupee ended weaker on Monday despite a rally in the Chinese yuan and a softer U.S. dollar as the domestic unit's strength was capped by dollar demand from oil companies and importers, traders said. The rupee ended at 83.03Nifty ends at fresh record high on gains in PSUs & RIL; Sensex surges 528 ptsEquity benchmark indices extended their rally for the seventh day running on Monday as investors continued to remain optimistic about the domestic markets.

*Pakistan Weekly Cotton Review: Spot rates fall as cotton prices fall in New York*Karachi: Last week, an unprecedented fluctuation of Rs 3,000 per maund was seen in cotton rates. Significant fall in the US dollar rate resulted in a significant decline in the spot rate by Rs 3,000 per maund. The decline in New York cotton prices coupled with satisfactory cotton production also led to the decline in cotton prices.Whitefly attacks have been reported in some cotton growing areas in Pakistan and farmers should be made aware of this.Pakistan Cotton Ginners Association President Waheed Arshad has said that the revival of the textile sector is the revival of the national economy. He said that due to heavy tax levy by TMA, fifty percent of the ginning factories are idle and farmers are facing difficulties.Cotton prices declined from Rs 20,000 to Rs 21,000 per maund to Rs 17,000 to Rs 17,500 per maund and then touched Rs 18,000 to Rs 19,000 per maund. Government intervention saw a significant decline in the value of the US dollar, while New York cotton futures trading rates also remained relatively low.Textile spinners were engaged in cautious buying as they faced the threat of interest rate hikes in addition to the continued rise in energy prices. They were also concerned about rising gas prices and supply shortages.According to the information received from various areas, the cotton crop is said to be satisfactory. However, farmers should be cautious as cotton crops have been attacked by whitefly in some areas.Cotton rates in Sindh touched Rs 17,500 to Rs 18,000 per maund after falling sharply from Rs 2,000 to Rs 2,500 per maund. The rate of footi is Rs 8,800 after a decline of Rs 5,00 to Rs 7,00 per 40 kg.Cotton rates in Punjab range between Rs 18,500 to Rs 19,000 per maund while cotton rates range between Rs 8,000 to Rs 9,500 per 40 kg. Cotton rates in Balochistan range between Rs 17,000 to Rs 18,000 per maund while cotton rates range between Rs 9,000 to Rs 10,000 per 40 kg.The Spot Rate Committee of Karachi Cotton Association reduced the spot rate by Rs 3,000 per maund and closed it at Rs 18,000 per maund. There is also a bearish trend in the prices of cottonseed, cake and oil.Karachi Cotton Brokers Forum Chairman Naseem Usman has said that a mixed trend was seen in the cotton rates in the international cotton market. New York cotton futures trading rate closed at 85.91 US cents after reaching 89 US cents per pound.According to the weekly export and sales report for 2023-24, 85,100 bales were sold. Mexico remained on top by purchasing 28,900 bales. Costa Rica came in second with 22,400 bales. China bought 16,200 bales and stood third. Pakistan purchased 6,300 bales and stood fifth. About 600 thousand bales were sold for the year 2024-25. Pakistan remained on top by purchasing 1100 bales. Mexico came in second by purchasing 4,400 bales.However, Pakistan Towel Manufacturers Association Senior Vice President Syed Usman Ali has expressed serious concern over the statement of the acting federal commerce minister that more than 1,600 textile factories have been closed in the country during the last 16 months.Everyone knows that the textile sector is the backbone of our economy. It is a valuable source of foreign exchange earnings, an important generator of employment which is driving economic activity.Meanwhile, due to the heavy taxes imposed on the ginning industry, more than fifty percent of the ginning factories in Pakistan are currently idle, causing great difficulty to farmers in selling their cotton and textile mills also do not have abundant supply of cotton. . Also, the country's economy is weakening due to spending billions of dollars annually on importing cotton and edible oil.Pakistan Cotton Ginners Association President Waheed Arshad while speaking to PCGA officials in Rahim Yar Khan said that currently there is 18% sales tax on ginning industry in addition to income tax, due to which it has become almost impossible. Ginning industry will remain active. He said the federal government should immediately abolish sales tax on cotton seeds and cotton oil as promised.Apart from this, despite all the weather conditions being in favor of cotton, our cotton crop is facing serious problems, especially the attack of white fly. Under these circumstances, the seed sector has a heavy responsibility to introduce cotton varieties in the coming years which can provide control of whitefly. It is important to introduce such products in the market which are effective against whitefly and are not heavy on the farmer's pocket. The economy of our country is related to cotton and serious attack of white fly as well as pink bollworm on cotton crop can harm our economy.

The rupee closed at 82.95 against the US dollar. Despite strengthening on Friday, the rupee recorded a weekly decline of 0.27%.The stock markets closed higher for the sixth consecutive day on Friday, September 8. In these 6 days, Sensex and Nifty increased by about 3 percent and closed 333 points higher; Nifty is at 19,800.

Pakistan: Heavy fall in spot price in cotton market.LAHORE: The spot rate committee of the Karachi Cotton Association (KCA) on Thursday reduced the spot rate by Rs 700 per head and closed it at Rs 18,500 per head. The local cotton market remained subdued and the volume of business was satisfactory.Cotton analyst Naseem Usman said that the cotton rate has fallen by Rs 3,000 per maund in the last four days. He also told that the reason for the decrease in the price in the local cotton market is the bearish trend in the New York cotton market as well as the decrease in the dollar price.Naseem Usman also told the Business Recorder that the rate of new cotton crop in Sindh is Rs 17,000 to Rs 17,500 per head. The rate of footi in Sindh is between Rs 7,500 to Rs 8,000 per 40 kg.The rate of cotton in Punjab is between Rs 18,500 to 18,700 per head and the rate of cotton in Punjab is between Rs 7,500 to 8,000 per 40 kg. Cotton rates in Balochistan range from Rs 17,500 to Rs 18,000 per head, while footy rates range from Rs 8,000 to Rs 9,000 per 40 kg.Sui gas 800 bales was sold for Rs.18,700 per head, Pir Vasan 1000 bales for Rs.18,500 per head, Shahdadpur 1800 bales for Rs.18,500 to Rs.18,700 per head, Tando Adam 4200 bales were sold. 18,000 to 18,700 per head, 2400 bales of Rohri were sold for 18,300 to 18,700 per head, 1800 bales of Saleh Pat were sold for 18,500 to 19,500 per head, 1400 bales of Yajman Mandi at Rs. were sold 19,000 per head, Ahmad Pur East 200 bales at Rs 19,400 per head, Haasil Pur 200 bales at Rs 19,500 per head, Fort Abbas 800 bales at Rs 19,000 to Rs 20,000 per head, 600 bales per head were sold. Chichavatni was sold for Rs 19,000 per head, Haroonabad 1800 bales at Rs 19,000 to Rs 19,500 per head, Shujabad 800 bales, Khanewal 600 bales at Rs 19,000 to Rs 19,500 per head, Vehari 800 bales were sold. 19,500 to Rs 19,600 per head, 1600 bales of Burewala sold at Rs 18,500 to 19,000 per head, 400 bales of Gojra sold at Rs 19,000 per head, 800 bales of Marat at Rs 19,500 to 20,000 Sold at the rate of Rs per maund. , 400 bales of Kachchi Wala were sold at Rs 19,000 to Rs 19,500 per maund and 600 bales of Miyan Channu were sold at Rs 19,000 per maund.The Spot Rate Committee of Karachi Cotton Association reduced the spot rate by Rs 700 per maund and closed it at Rs 18,500 per maund. The local cotton market remained subdued and the volume of business was satisfactory. Polyester fiber was available at Rs 378 per kg.

Rupee rises 7 paise to open at 83.14 against the US dollarThe Indian rupee opened 7 paise higher against the US dollar on Friday led by a softer dollar amid a pullback in US treasury yields. The local currency opened at 83.14 a dollar as compared to previous close of 83.21.Stock market starts on a brisk note on G20 day, Sensex opens up by 58 pointsThe G20 Summit is starting in New Delhi from today. In this, the economic situation of the world will be discussed. At the same time, before the start of this conference, today the Share Market started with a boom. Today, the BSE Sensex opened at a level of 66323.94 points with a gain of about 58.38 points. On the other hand, the NSE's Nifty opened at a level of 19748.30 points with a gain of 21.30 points.