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The rupee opened with weakness against the dollar today.The rupee opened with weakness against the dollar today. Today the rupee opened with a weakness of 1 paise at Rs 83.11 against the dollar. At the same time, on Tuesday, the rupee strengthened by 3 paise and closed at Rs 83.10 against the dollar.Today BSE Sensex opened with a decline.Today BSE Sensex opened with a fall of 194.24 points at the level of 70945.66 points. Whereas NSE's Nifty opened with a fall of 39.40 points at the level of 21482.70 points. Today, trading started in a total of 2,102 companies in BSE.

This evening, the rupee strengthened by 2 paise and closed at Rs 83.11 against the dollar.This evening the Sensex fell 802 points and closed at 71,140. Nifty fell 216 points and closed at 21,522.

Red Sea Crisis May Not Right Away Hit Textile Sector: CRISILPlayers operating in sectors like textiles, chemicals and capital goods may not be immediately impacted because of better ability to pass on higher costs, or because of a weaker trade cycle.“But a prolonged crisis over the next few quarters can make these sectors also vulnerable as working capital cycles would get stretched with orders put on hold,” according to CRISIL Ratings.According to CRISIL, 75 percent of home textiles are exported, mainly to Europe, North America, North Africa and the Middle-East and their mid-teen margins can absorb higher freight rates for some time.Indian companies use the Red Sea route through the Suez Canal to trade with Europe, North America, North Africa and parts of the Middle-East.These regions accounted for 50 percent of India’s exports worth Rs 18 lakh crore and 30 percent of imports worth Rs 17 lakh crore in the earlier fiscal.Increasing attacks on ships sailing in the Red Sea region since November 2023 have persuaded shippers to consider the alternative, longer route past the Cape of Good Hope.This has not only stretched delivery time by 15-20 days, but also increased the transit cost substantially because of incremental freight rates and insurance premium.“While the immediate impact of the crisis would be low for most of India Inc., a prolonged strife can affect the profitability and working capital cycle of export-oriented industries,” the ratings agency added.“The extent of this will vary depending on sectoral nuances. Supply chain issues could also intensify, curbing trade volume and renewing inflationary pressures,” CRISIL observed.

Rupee strengthened against dollar, opened with Rs.   The rupee opened strongly against the dollar today. Today the rupee opened with a strengthening of 1 paise at Rs 83.13 against the dollar. At the same time, on Monday, the rupee closed at Rs 83.13 against the dollar with a weakness of 2 paise.Stock market continues to rise even today, Sensex opens with rise of 162 pointsToday BSE Sensex opened at 72104.21 points with a gain of 162.64 points. Whereas NSE's Nifty opened with a gain of 60.20 points at the level of 21797.80 points. A total of 2,440 companies started trading in BSE today.

This evening, the rupee closed at Rs 83.13 against the dollar with a weakness of 1 paise.Sensex, Nifty rise by about 2%; Oil and gas, bank shares shineBenchmark equity indices Sensex and Nifty rose about 2 per cent each on Monday due to heavy buying in Reliance Industries and rally in Asian markets. The BSE Sensex closed at 71,941.57, up 1,240.90 points or 1.76 per cent. During the day it rose 1,309.55 points or 1.85 percent to 72,010.22. Nifty rose 385 points or 1.80 percent to 21,737.60.

Cotton Gains Amid Rise In Overseas Prices, Aided By A Drop In Unsold InventoriesCotton candy prices saw a modest uptick, closing 0.45% higher at 57500, buoyed by a surge in overseas prices supported by a drawdown in unsold inventories and a weakened U.S. dollar. The global cotton market witnessed adjustments in consumption forecasts for the 2023/24 season, with a reduction of 1.3 million bales due to lower estimates for India, Indonesia, Pakistan, Uzbekistan, and Turkey. Brazil witnessed record-high cotton production in the 2022-23 season, driven by expanded cultivation and improved productivity. The infestation of pink bollworm in the Indian cotton crop has declined, dropping from 30.62% during 2017-18 to 10.80% in 2022-23. Reports suggest a reduction in pink bollworm infestation across cotton-growing areas in the north, central, and south zones of the country. In November, Brazilian cotton shipments increased by 12%, reaching 253.71 thousand tons compared to October 2023. However, it marked a 5.5% decrease compared to November 2022. Globally, the International Cotton Advisory Committee (ICAC) projected that cotton production would likely outpace consumption for the second consecutive year.Technically, the cotton candy market experienced short-covering, with open interest remaining unchanged at 176. Despite a price increase of 260 rupees, support is identified at 57020, with a potential test of 56550 if breached. On the upside, resistance is anticipated at 57780, and a breakthrough might propel prices to test 58070. source : investing.com

Surgical Cotton Variety: 'Surgical' cotton variety developed"The Central Cotton Research Institute at Nagpur has provided an alternative cotton variety for surgical purposes. The intention behind it is to promote it at the commercial level and benefit those cotton growers. The characteristic of this variety is its water absorption capacity.Dr. Prasad said, “Our institute has developed an improved variety of (surgical) cotton for medical purposes. BT technology has also been used in it. As such cotton is of commercial importance, it fetches a good price.It is processed after the selection. Then it becomes available in the market. This cotton has many characteristics. The thread of this variety is coarse and the water absorption capacity is 25 percent more than other varieties.Cotton varieties for medical purposes should have this trait strongly. Therefore, special attention has been paid to this in the research of this variety. If there is a demand from farmers or companies, it will be possible to provide seeds of this variety to some extent.Varietal characteristics* Yarn quality more than 5.7 to 6 in unit 'micronaire'* The same micronaire remains in the range of 3.5 to 4.5 in cotton varieties useful for textile manufacture* Color grade (RD) of this variety is 74-75. So this variety looks more white* The thread is coarse and water absorption capacity is 25 percent more than other varietiesAbout 35 percent of the area in Maharashtra is dryland. In that background, this variety is suitable for dry and light soils. It can also be cultivated in a very intensive manner. In that way the production can be up to 20 quintal per hectare. Its ripening period is short i.e. 120 to 140 days. - Dr. Y. G. Prasad, Director, Central Cotton Research Institute, Nagpur source : agrowan

After low yield, cotton crop hit by poor pricesChandigadh: Contrary to the push for crop diversification, most cotton growers in the state are finding it difficult to fetch the expected prices for their produce as their stocks have failed to fulfil the criterion fixed by Cotton Corporation of India (CCI). Due to shrinking acreage and reduced yield, the local cotton industry will be forced to bring in cotton from other states to complete their orders.With cotton touted as a viable alternative to the water-guzzling paddy, state government had announced a subsidy on BT cotton seeds ahead of the season. The cotton crop was, however, hit by pink bollworm in the Fazilka area, besides untimely rains causing widespread damage to the produce last year. It resulted in growers reaping a low average yield of around 4 quintal per acre.Swaroop Singh, general secretary, BKU (Lakhowal), said the quality of the cotton crop was not expected due to faulty seeds and adverse weather conditions. The CCI is offering a price of Rs 6,770 per quintal against the Centre’s rate of Rs 7,020 per quintal for long staple. Only a small quality of good-quality cotton was bought by private traders for over Rs 7,200 per quintal. “Since the majority of cotton growers were unable to fulfil the CCI’s quality criterion, they were forced to sell their stocks for as low as Rs 5,300 per quintal to private players. Only 20 per cent of the growers’ produce is left unsold. It has come as a major discouragement for cotton growers and many of them are contemplating switching to paddy that would be a disturbing trend,” he said.The total area under cotton this time shrunk to 1.73 lakh hectares – down from 2.48 lakh hectares in 2022, against the target of 3 lakh hectares. A major factor was the disillusionment of farmers due to the back-to-back past attacks by white fly, pink bollworm over successive seasons and many of them opted for paddy cultivation. There are eight cotton districts in the state of which Bathinda, Mansa, Fazilka and Muktsar make the lion’s share. source : TOI

The rupee opened with weakness against the dollar today.The rupee opened with weakness against the dollar today. Today the rupee opened with a weakness of 3 paise at Rs 83.14 against the dollar. At the same time, on Friday, the rupee strengthened by 3 paise and closed at Rs 83.11 against the dollar. Today the stock market opened with a rise Today trading started with huge rise in shares of HDFC Bank and Reliance. Due to this, today BSE Sensex opened with a rise of 413.29 points at the level of 71113.96 points. Whereas NSE's Nifty opened at 21475.80 points with a gain of 123.20 points. Today, trading started in a total of 2,522 companies on BSE.

The rupee strengthened by 3 paise and closed at Rs 83.12 against the US dollar.Today Sensex closed at 71060.31 with a jump of 689.76 points or 0.98 percent and NIFTY 50 also closed at 21453.95 with a jump of 215.15 points or 1.01 percent.

Rupee opens flat against US dollar in early tradeRupee hits low of 83.16 against US dollar in early tradeSensex has recovered initial losses, but bearishness prevails; 21,000 important for NiftyBenchmark indices NSE Nifty 50 and BSE Sensex recovered their early losses to trade in positive territory in the third week of the corporate earnings season. This relief has come after two days of improvement amid a mixed global order. Today Sensex up 340 points, Nifty at 21,350.