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Rupee closes at fresh record low against dollarThe rupee closed at an all-time low of Rs 83.21 against the dollar this evening with a weakness of 8 paise.The Indian rupee hit a fresh record low against the US dollar on hopes of stronger demand for the US dollar following a fall in Asian currencies.Sensex again crosses 66,000 mark with a gain of 385 pointsToday the stock market closed with a rise. Today, where the Sensex closed at a level of 66265.56 points with a gain of about 385.04 points. On the other hand, Nifty closed at 19727.00 points with a gain of 116.00 points.

China's exports, imports fall as pressures persistChina's exports and imports fell in August, data showed on Thursday, as the twin pressures of sagging overseas demand and weak consumer spending squeezed businesses in the world's second-largest economy.While the trade numbers beat analysts' expectations, they show China's manufacturing sector remains under significant pressure and that policymakers will need to focus on boosting domestic demand to shore up growth, after export orders and imported parts held back factory activity last month.Exports dropped 8.8% in August year-on-year, customs data showed on Thursday, beating a forecast of 9.2% in a Reuters poll and off a 14.5% drop in July. Meanwhile, imports contracted 7.3%, slower than an expected 9.0% decline and last month's 12.4% fall.The economy is at risk of missing Beijing's annual growth target of about 5% as officials wrestle with a worsening property slump, weak consumer spending and tumbling credit growth, leading analysts to downgrade forecasts for the year."The figures suggest the headwinds remain, despite some marginal improvement," said Zhou Hao, chief economist at Guotai Junan International. "Looking ahead, whether China's trade growth has already hit the bottom will hinge on several factors, the most important of which is obviously domestic demand."Beijing has announced a series of measures in recent months to shore up growth, with the easing of some borrowing rules last week by the central bank and the top financial regulator to aid homebuyers.But analysts warn the steps may have little impact with a labour market recovery slowing and household income expectations uncertain.Crude oil shipments were 31% higher in August than the same period last year, and up 21% on July, while soybean imports in August also jumped 31% from a year ago, encouraged by cheap prices in Brazil.China posted a trade surplus of $68.36 billion in August, compared with a forecast $73.80 billion and a July figure of $80.6 billion."Due to the low base at the end of last year, it's very likely for exports to return to growth at the end of this year," said Nie Wen, an economist at Hwabao Trust.source : reuters

*Pakistan: Due to continuing uncertainties, the rate in the cotton market has further declined*LAHORE: The spot rate committee of the Karachi Cotton Association (KCA) on Thursday reduced the spot rate by Rs 800 per head and closed it at Rs 19,500 per head. The local cotton market remained subdued and the volume of business was satisfactory.Cotton analyst Naseem Usman said that the rate of new crop of cotton in Sindh is Rs 18,000 to Rs 18,500 per maund. The rate of footi in Sindh is between Rs 8,000 to Rs 8,500 per 40 kg. The rate of cotton in Punjab is Rs 18,500 to 19,000 per head and the rate of cotton is Rs 8,000 to 8,500 per 40 kg in Punjab. Cotton rates in Balochistan range from Rs 18,300 to Rs 18,500 per head, while footy rates range from Rs 9,000 to Rs 9,500 per 40 kg.About 400 bales of Saleh Pat were sold between Rs 19,700 to Rs 20,200 per maund, 2200 bales of Rohri were sold between Rs 19,800 to Rs 20,200 per maund, 1200 bales of Sui Gas were sold between Rs 19,700 to Rs 20,100 per maund. . Per maund, 400 bales of Khair Pur were sold at Rs 19,500 to Rs 20,300 per maund, 1200 bales of Mehraab Pur were sold at Rs 19,500 to Rs 20,100 per maund, 2400 bales of Sanghar were sold at Rs 19,200 to Rs 19,800 per maund. Sold at the rate of 2800 bales of Shahzad Pur were sold at Rs 19,300 to Rs 20,000 per maund, 300 bales of Tando Edam were sold at Rs 19,200 to Rs 20,000 per maund, 1800 bales of Nawab Shah were sold at Rs 19,000 to Rs 19,500 per maund, 600 bales were sold at Rs. Mian Wali's bales were sold between Rs 20,300 to Rs 20,600 per maund, 400 bales of Taunsa Sharif, 200 bales of Ahmed Pur East were sold at Rs 20,000 per maund, 600 bales of Fort Abbas, 600 bales of Harunabad were sold. Rs 20,500 to 20,800 per maund, 600 bales of Shujabad were sold at Rs 20,000 to 20,400 per maund, 800 bales of Yajman Mandi were sold at Rs 20,000 to 20,500 per maund, 600 bales of Hasilpur were sold at Rs 20,000 to 20,500 per maund. At Rs 19,900 to Rs 20,300 per maund, 800 bales of Burewala were sold at Rs 20,000 to Rs 20,100 per maund, 1800 bales of Laiya were sold at Rs 20,000 to Rs 20,500 per maund, 1000 bales of Rajan Pur were sold at Rs 20,000 to Rs 20,500 per maund. were sold Rs 20,500 per maund, 1000 bales of Samundri were sold at Rs 20,000 to Rs 20,500 per maund, 800 bales of Fakir Wali were sold at Rs 20,300 to Rs 20,400 per maund and 400 bales of Bahawalpur were sold at Rs 20,600 per maund.The Spot Rate Committee of Karachi Cotton Association on Thursday reduced the spot rate by Rs 800 per maund and closed it at Rs 19,500 per maund. Polyester fiber was available at Rs 378 per kg.

Rupee opens flat at 83.12 against the US dollarThe Indian rupee opened flat against the US dollar on Thursday amid strength in American currency and surging crude oil prices. The local unit opened at 83.12 a dollar as compared to its previous close of 83.13.Stock market begins to decline, Sensex opens 75 points lowerToday started with a decline in the stock market. Today, the BSE Sensex opened at a level of 65805.14 points with a fall of 75.38 points. On the other hand, the NSE's Nifty opened at a level of 19586.80 points with a fall of 24.20 points.

Rupee at all-time low against US dollar, slumps 9 paise down to ₹83.14The rupee depreciated by 9 paise and settled for the day at an all-time low of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency.Sensex, Nifty extend gains into fourth consecutive session despite weak global cuesSensex closed 100 points, or 0.15 per cent, higher at 65,880.52 while the Nifty50 closed the day at 19,611.05, up 36 points, or 0.18 per cent.

*Pakistan: Strong trend in cotton market*LAHORE: The local cotton market remained subdued on Tuesday with low trading volume.Cotton analyst Naseem Usman said that the rate of new crop of cotton in Sindh is Rs 19,600 to Rs 20,300 per maund. The rate of footi in Sindh is between Rs 8,000 to Rs 9,200 per 40 kg. The rate of cotton in Punjab is between Rs 19,900 to Rs 20,500 per head and the rate of cotton in Punjab is between Rs 8,000 to Rs 9,500 per 40 kg. Cotton rates in Balochistan range from Rs 19,800 to Rs 20,200 per head, while footy rates range from Rs 9,000 to Rs 10,500 per 40 kg.About 800 bales of Tando Edam were sold at Rs 19,800 to Rs 20,000 per maund, 800 bales of Shahdad Pur at Rs 19,900 to Rs 20,000 per maund, 600 bales of Saleh Pat, 200 bales of Rohri were sold at Rs 20,500 per maund. 200 bales of Maund, Fort Abbas were sold at Rs 21,000 per head, 400 bales of Layya were sold at Rs 20,700 to 21,000 per head, 200 bales of Vehari and 400 bales of Haroonabad were sold at Rs 21,000 per head Were sold.Spot rate remained unchanged at Rs 20,300 per maund. Polyester fiber was available at Rs 378 per kg.

Rupee opens flat at 83.02 against the US dollarThe Indian rupee opened flat against the US dollar on Wednesday amid broader strength in the greenback and a sharp surge in crude oil prices. The local currency opened at 83.02 a dollar as compared to previous close of 83.04.Sensex gains 152 points, Nifty above 19,600Indian benchmark indices Nifty 50 and Sensex opened near the flatline today. The Nifty 50 is inching towards the 19,600 mark, while Sensex is at 65,750.

Rupee weakens by 29 paise against dollarThis evening, the rupee closed at a level of 83.04 against the dollar with a weakness of 29 paise.Sensex up 152 pointsToday the stock market closed with a rise.Today, where the Sensex closed at a level of 65780.26 points with a gain of about 152.12 points.On the other hand, the Nifty closed at a level of 19574.90 points with a gain of 46.10 points.

Pakistan Cotton Market: Spot price drops by Rs 700 per maundLAHORE: The spot rate committee of the Karachi Cotton Association (KCA) on Monday cut the spot rate by Rs 700 per maund to close at Rs 20,300 per maund. The local cotton market was easy and the volume of business was satisfactory.Cotton analyst Naseem Usman said that the price of new crop cotton in Sindh is Rs 19,800 to Rs 20,200 per maund. The rate of footy in Sindh is between Rs 9,000 to Rs 9,800 per 40 kg. The price of cotton in Punjab is between Rs 20,500 to Rs 21,000 per maund and the price of cotton in Punjab is between Rs 9,000 to Rs 10,000 per 40 kg. The rate of cotton in Balochistan is between Rs 20,000 to Rs 20,400 per maund while the rate of footi is between Rs 9,000 to Rs 11,000 per 40 kg.By August 31, 2023 three million (30,41,104) bales worth of seed cotton (feet) has reached ginning factories across Pakistan.According to the fortnightly report of the Pakistan Cotton Ginners Association (PCGA) released to the media on Sunday, ginning factories in Punjab recorded cotton inflows of 10,68796 bales, while ginnery in Sindh recorded inflows of (19,72,308) bales. Gayi, comprising 11,84,243 bales. Alone reaching Ginnery in Sanghar district. In Balochistan, 70,600 bales were recorded.Of the total inflow, seed cotton converted into bales was recorded at 2.8 million (28,61,106) bales.Exporters have purchased a total of 168,726 bales of cotton, while textile mills have purchased a total of over 2.6 million (26,15,271) bales. According to the report, the Trading Corporation of Pakistan (TCP) has not yet started procurement of cotton. There was a stock of 2,57,107 unsold cotton bales. A total of 528 ginning factories were operating in the country. 1000 bales of Tando Adam were sold between Rs 19,650 to Rs 20,000 per maund, 400 bales of Layya at Rs 21,000 per maund, 600 bales of Rajanpur, 200 bales of Mongi Bangla, 400 bales of Gojra and 200 bales of Haasil. Pur was sold at the rate of Rs 20,500 per head.The spot rate committee of the Karachi Cotton Association reduced the spot rate by Rs 700 per maund and closed it at Rs 20,300 per maund. Polyester fiber was hiked by Rs 5 and was available at Rs 378 per kg.

Rupee opens 3 paise lower at 82.78 against the US dollarThe Indian rupee opened 3 paise lower against the US dollar on Tuesday weighed down by surging crude oil prices. The local currency opened at 82.78 a dollar as compared to its previous close of 82.75.Nifty opens flat, holds above 19500, Sensex trades sidewaysIndian equity indices NSE Nifty 50 and BSE Sensex opened in the green on Tuesday, extending the two-day gaining streak. Nifty 50 held above the key 19,500, opening at 19,564.65 while Sensex commenced the session at 65,671.60. The broader markets opened in the green, following cues from the domestic benchmarks.

Rupee weakens by 3 paise against dollarThis evening, the rupee closed at Rs 82.75 against the dollar with a weakness of 3 paise.Sensex rose 240 pointsToday the stock market closed with a rise.Today, where the Sensex closed at a level of 65628.14 points with a gain of about 240.98 points.On the other hand, the Nifty closed at a level of 19528.80 points with a gain of 93.50 points.