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Today evening, the rupee strengthened by 16 paise to close at Rs 76.26 against the dollar.The stock market closed sharply.Today, where the Sensex closed at the level of 55702.23 points with a gain of 33.20 points. On the other hand, the Nifty closed at the level of 16682.70 points with a gain of 5.10 points.  

Sensex returns, opens up 515 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 515.45 points to open at the level of 56184.48 points. On the other hand, the Nifty of NSE opened with a gain of 158.70 points at the level of 16836.30 points.

Rupee opens 27 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 27 paise at Rs 76.14 against the dollar. On the other hand, the rupee on Wednesday gained 10 paise to close at Rs 76.41 against the dollar.

All India Weather Forecast for May 05, 2022Weather systems made across the countryA Western Disturbance is persisting over Jammu and Kashmir and adjoining region.An Induced Cyclonic Circulation lies over Central Pakistan and adjoining region.A trough is extending from Punjab to Bangladesh passing through Haryana, South Uttar Pradesh, South Bihar and West Bengal.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over Manipur, Telangana, Coastal Odisha, Andaman and Nicobar Islands, Himachal Pradesh and Interior Tamil Nadu.Light to moderate rain occurred over rest of Northeast India, rest of Tamil Nadu, Coastal Karnataka, Rayalaseema and Jammu and Kashmir.Light rain occurred in one or two parts of West Bengal, East Madhya Pradesh, Chhattisgarh, Vidarbha, Coastal Andhra Pradesh and Vidarbha, North Punjab and North Haryana.The heat wave has stopped in the country.Probable weather activity during next 24 hoursModerate to heavy rain with very heavy rain at one or two places is very likely over Andaman and Nicobar Islands for the next 2-3 days. The sea condition will be rough to very rough over South Andaman Sea and adjoining parts of southeast Bay of Bengal. There will be high waves in the sea and strong winds can blow.Light to moderate rain is possible over Northeast India, Sub-Himalayan West Bengal, Sikkim parts of Odisha and isolated parts of Kerala over Tamil Nadu.Light to moderate rain may occur over Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, Himachal Pradesh, Uttarakhand, East Uttar Pradesh, Bihar, Jharkhand, parts of Chhattisgarh, Interior Karnataka, Rayalaseema, Coastal Karnataka and one or two parts of Telangana.Light rain and thundershowers are very likely to occur over parts of Punjab, Haryana, North Rajasthan, Delhi and West Uttar Pradesh.

On Wednesday evening, the Sensex lost 1307 points and closed at 55669.03.  Rupee gains strength against dollar, gains 10 paise to close at 76.41.The fall in gold, till the writing of the news, the price reached Rs 50647, falling by Rs 161.  There was a slight increase in the cotton physical market in the North Zone, the rest of the entire India market remained stable.  Soyabean seed rose by Rs 100-150 per quintal to reach 7150-7400.  

On increasing cotton yarn prices on Monday, garment manufacturers in Tiurppur have needed a ban on export of cotton and cotton yarn. Textile mills have, meanwhile, urged the Union government to come back out with a system to gather accurate data on cotton production and consumption.“There is no any data on cotton production, consumption, stocks available with farmers and traders,” Ravi Sam, chairman of Southern India Mills’ Association (SIMA), said.“Textile mills are adding spindles and cotton consumption is increasing. Only with proper data govt can take decisions which will help the industry,”It is estimated that a minimum of two lakh spindles are added each month resulting in higher demand for cotton. Textile mills have started contracting cotton from overseas suppliers though international prices are at this time slightly higher of domestic prices. If cotton and yarn exports are banned, prices will crash and also the mills will incur losses, he said. Cotton prices reduced slightly when the govt removed the duty. However, the costs started stoning up afterward.The government should announce a technology mission on cotton to extend productivity and introduce a system to gather proper data on cotton, he said.

The garment units in Tirupur, widely referred to as the garment capital of South India, will down shutters from May 16 to 21 in protest against the hike in prices of cotton yarn.The price of cotton yarn has increased by Rs 40 per kg after the Centre reduced the tariff on cotton.The strike call was announced by the Tirupur garment owners association during a statement on Tuesday.The garment units, mostly exporters, are worried that the hike in cotton yarn prices will adversely affect their business and, hence, as a mark of protest they'll stage the six-day protest. The annual turnover of the Tirupur apparel industry is around Rs 36,000 crore.Tirupur garment owners association president, M.P. Muthuraman, while chatting with IANS, said, "The cotton mills increased the worth of yarn by Rs 50 per kilogram in November 2021, and also the yarn was sold at Rs 350 per kg. Now after the govt of India has reduced the duty of cotton, we were expecting prices of yarn to fall, instead, mills have increased it by Rs 40 per kg with which we cannot survive. we've no other option but to shut our units as a mark of protest."Tiruppur Exporters Association (TEA) president, Raja Shanmugham while talking to IANS said, "We request the Union government to effect a ban on the export of cotton yarn till the worth stabilizes."He said that there are possibilities of cotton being hoarded by traders in North India resulting in scarcity of product.Tamil Nadu Spinning Mills Association (TNSMA) special advisor, Dr. K. Venkitachalam while chatting with IANS said, "The cotton traders in North India are hoarding the merchandise creating scarcity and hence mills are increasing the costs. There seems to be no effect on the removal primal duty of cotton by the govt of India."He also said that when the removal great duty for cotton was announced, there was a direct drop by candyfloss prices, but now with less availability of spun sugar, the value has come up.

Cotlook’s April supply and demand forecasts indicate higher figures for production and consumption in 2021/22 but reduced consumption next seasonThe past month has seen a modest increase in Cotlook’s forecast of raw cotton output in the 2021/22 season, entirely attributable to improved performance in the African Franc Zone. Consumption was also increased, by 25,000 tonnes overall, owing to shifts in the assessments of demand in Far Eastern markets outside China. The result is that world stocks by the end of the current season are now expected to decrease by 229,000 tonnes, compared to 219,000 a month ago.Production estimates for 2022/23 were unchanged, while consumption was subject to a further reduction arising from another cut for Vietnam. Global cotton stocks by July 31, 2023 are thus forecast to increase by 515,000 tonnes year on year, up from 465,000 in our March estimate.

Today evening, the rupee strengthened by 10 paise to close at Rs 76.41 against the dollar.Sensex closed down by 1307 points today eveningToday RBI has suddenly increased the repo rate. Due to this, there was a negative effect in the stock market and in the end it closed with a huge fall.Today, where the Sensex closed at a level of 55669.03, down 1306.96 points.Nifty closed at a level of 16677.60 points down by 391.50 points.

Rupee opens 6 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 6 paise at Rs 76.46 against the dollar. At the same time, on Monday, the rupee declined by 9 paise to close at Rs 76.52 against the dollar.

Sensex rises further, opens up 64 pointsToday the stock market opened with great momentum. Today, the BSE Sensex opened with a gain of 63.69 points at the level of 57039.68 points. On the other hand, the Nifty of NSE opened with a gain of 23.90 points at the level of 17093.00 points.