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Rupee depreciates against dollar, loses 11 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 11 paise at Rs 73.76 against the dollar. At the same time, the rupee on Thursday closed at Rs 73.64 with a gain of 26 paise against the dollar.Sensex's new record, crosses 60000 mark for the first timeToday the stock market made a new record of bullishness. Today, the BSE Sensex rose by about 331.64 points to open above the record level of 60217.00 points for the first time. On the other hand, the Nifty of NSE opened with a gain of 90.50 points at the level of 17913.50 points. This rise of Nifty is also a record.  

*All India Weather Forecast for September 24, 2021**Weather systems made across the country*A cyclonic circulation lies over North Chhattisgarh and adjoining Madhya Pradesh. It will move in North East direction towards North MP.Another Cyclonic Circulation is persisting over Gujarat.The North South Trough is extending from the cyclonic circulation over Chhattisgarh to Telangana.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred at isolated places over parts of Haryana, Punjab, East Rajasthan, Konkan and Goa, Andaman and Nicobar Islands and parts of Tamil Nadu. Lightly isolated over Western Himalayas, parts of Uttar Pradesh, Bihar, remaining parts of West Bengal, parts of Assam, Chhattisgarh, parts of Madhya Pradesh, Marathwada, Madhya Maharashtra, Gujarat, Karnataka, Lakshadweep, Kerala and Telangana It rained moderately.*Possible weather activity during next 24 hours*During the next 24 hours, parts of Andaman and Nicobar Islands, Coastal Andhra Pradesh, isolated parts of Chhattisgarh, parts of Madhya Pradesh, Vidarbha, Marathwada, Southeast Rajasthan, North Konkan and Goa, parts of Gujarat, Light to moderate rain with isolated heavy rain is likely over parts of East Madhya Pradesh. Light to moderate rain is possible over Bihar, Chhattisgarh, Uttarakhand, Himachal Pradesh, Punjab, Haryana, Delhi, Uttar Pradesh, remaining parts of Rajasthan, parts of Saurashtra and Kutch, Konkan and Goa, Madhya Maharashtra, Karnataka and Telangana. Light rain is possible over Odisha, Coastal Karnataka, Kerala, Tamil Nadu, South India Karnataka and Lakshadweep.

*Cotton rises on weaker dollar**ICE cotton futures gained on Thursday, supported by a weaker dollar and a strong weekly US export sales report, with risk-on sentiment in the equity markets adding to the upbeat mood.**“The obstacles of the Federal Reserve’s tapering and China Evergrande real estate event are sort of put on hold right now allowing the stock market rise. And the dollar is down today,” said Keith Brown, principal at cotton brokers Keith Brown and Co in Georgia. “And, of course, cotton sales were up, with China being the lead buyer.**All these factors are helping cotton prices today.” The dollar fell 0.5% against its rivals, making cotton less expensive for buyers holding other currencies.**The sentiment in wider financial markets remained upbeat as investors largely brushed off concerns over the Federal Reserve’s plans for tapering.**Meanwhile, the US Department of Agriculture’s weekly export sales report showed net sales of 345,400 running bales for 2021/2022, were up 21% from the previous week, with increases primarily for China.**Total futures market volume fell by 6,446 to 11,197 lots. Data showed total open interest gained 202 to 262,785 contracts in the previous session.**Certificated cotton stocks deliverable as of Sept. 21 totalled 60,976 480-lb bales, unchanged from the previous session.*

*PAKISTAN COTTON MARKET UPDATE*Modest trading activity on cotton marketThe local cotton market on Thursday remained stable and trading volume remained a little bit low.The Spot Rate remained unchanged at Rs 12700 per maund. The Polyester Fiber was available at Rs 222 per kg.Cotton Analyst Naseem Usman told Business Recorder that due to rains in the cotton areas of Sindh and Punjab may effect the quality of Phutti.Federal Finance Minister Shaukat Tarin in his speech on 19th September at KCCI meeting said that the current season of cotton production in Pakistan will produce about 12 million bales.The rate of cotton in Sindh is in between Rs 11500 to Rs 113100 per maund and the rate of cotton in Punjab is in between Rs 13200 to Rs 13300 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4800 to Rs 5600 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5400 to Rs 5800 per 40 kg. The rate of Banola in Sindh is in between Rs 1450 to Rs 1700 per maund. The rate of Banola in Punjab is in between Rs 1450 to Rs 1700 per maund. The rate of cotton in Balochistan is in between Rs 12300- 12400 per maund. The rate of Phutti in Balochistan is Rs 5900- 6400 per maund.

U.S. EXPORT SALES FOR WEEK ENDING 16/09/2021 Cotton:  Net sales of 345,400 RB for 2021/2022 were up 21 percent from the previous week and 27 percent from the prior 4-week average.  Increases were primarily for China (219,800 RB), Turkey (52,700 RB), Pakistan (36,200 RB), Vietnam (9,700 RB, including 3,700 RB switched from China, 500 RB switched from Japan, and decreases of 500 RB), and Peru (5,500 RB, including decreases of 100 RB).  Exports of 176,800 RBwere down 26 percent from the previous week and 7 percent from the prior 4-week average.  The destinations were primarily to Turkey (36,000 RB), China (32,700 RB), Vietnam (25,700 RB), Mexico (22,700 RB), and Pakistan (19,700 RB).  Net sales of Pima totaling 23,500 RB were up noticeably from the previous week and up 86 percent from the prior 4-week average.  Increases were primarily for India (16,000 RB), Peru (2,400 RB), Turkey (1,500 RB), China (1,300 RB), and Greece (900 RB).  Exports of 3,800 RB were up 23 percent from the previous week, but down 45 percent from the prior 4-week average.  The destinations were to India (2,800 RB), China (500 RB), Peru (300 RB), and Pakistan (200 RB).Optional Origin Sales:  For 2021/2022, the current outstanding balance of 8,800 RB is for Pakistan.   Exports for Own Account:  For 2021/2022, the current exports for own account outstanding balance of 4,800 RB is for China (4,700 RB) and Vietnam (100 RB).

Rupee gains 23 paise to close at 73.64The rupee has strengthened by 23 paise to close at 73.64 against the dollar. Rupee also started with strength today. Rupee opened stronger today by 9 paise against dollar. The rupee opened at 73.78 against the dollar.On the other hand, there was a weakness in the rupee against the dollar in Wednesday's trade. The rupee today closed 26 paise weaker at 73.87 against the dollar.Record closing of Sensex, closed higher by 958 pointsToday the stock market closed with a record high. Today, where the Sensex closed at a record level of 59885.36 points with a gain of about 958.03 points. On the other hand, Nifty closed at a record level of 17823.00 points with a gain of 276.30 points.  

Rupee opens 9 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 9 paise at Rs 73.78 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 73.87 with a weakness of 26 paise against the dollar.Sensex rises further, opens up 340 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 340.21 points to open at the level of 59267.54 points. On the other hand, the Nifty of NSE opened with a gain of 107.10 points at the level of 17653.80 points. 

Pink bollworm attack on cotton at alarming levels, farmers panicThe pink bollworm attack on cotton crop in Punjab has been found to be much beyond earlier anticipated. Over one fourth area in biggest cotton growing districts of Bathinda and Mansa are disturbed on the count though earlier the attack was felt in around 10-15% area in these districts. The pest attack has also caused damage to the crop in border district of Fazilka and Muktsar but with less intensity.In some of the districts in Bathinda, Maur, Sangat blocks, the damage is found to be above 50% and at some places touching up to 60-70%, the fact even the state agriculture department officials too have conceded. The economic threshold level (ETL) has been found to be above 10 adults per leaf while the permissible limit is up to five adults.With the pink bollworm attack turning to alarming levels, the farmers have panicked and resorting to even un recommended spray to control it but are not getting relief. Cotton has been sown in 3.04 lakh hectares in Punjab and 1.70 lakh hectares (56% of total) was sown in these two districts. The attack though was noticed in last week of August in Bathinda and Mansa, but it could not be contained in nearly a month and instead has been increasing by the day.Farmer Gurcharan Singh of Bhamme Khurd village in Mansa ploughed his cotton crop in two acres on Wednesday. Gurcharan said despite spending on extra sprays the pest remained intact and had damaged the crop. With no other option he ploughed the crop. “The attack of pink bollworm is wide spread and if not contained at the earliest, more farmers may follow suit and as there is no time left to go in for another crop than sowing wheat in a month’ time, the farmers will have to suffer immense losses. We want government to fully compensate farmers for the damage being caused by pest attack,” said farm group BKU (Ekta Ugrahan) Mansa district president Ram Singh Bhainibagha.The state agriculture department officials too are on their toes. The department director has visited a number of villages on Bathinda on Wednesday. “We had got a survey conducted last week and today I visited the villages where damage to crop was found to be more. The damage is varying from village to village and field to field. In all, it could be over 15% in Bathinda and Mansa and there are no reports of damage from Fazilka and Muktsar. Sprays are being recommended to farmers,” department director Sukhdev Singh. He added that after getting ground report, the department will prepare a report on Thursday or by Friday and will provide the report to the state government to take any decision on the damage to cotton crop.“Over 10 pests are found in many of the plants and in the entire field which are causing extensive damage to the crop. We have made sprays but despite that the pest is intact and eating up the plants,” said farmers Mohinder Singh and Gurdev Singh of village Jai Singh Wala in Bathinda.The farmers from Sangat area in Bathinda fear a reset of 2015. They recalled the damage done to cotton crop six years ago. Then, the white fly attack had caused immense damage to the cotton crop and over 60% crop was damaged due to severe pest attack and many farmers facing losses had ended lives.

Kharif cotton procurement should begin in November: Maharashtra ministerCotton procurement for 2021-22 kharif season should commence from the first week of November, Minister for Cooperation and Marketing Balasaheb Patil said on Wednesday.At a meeting here, Patil took the stock of cotton cultivation in Maharashtra. He directed the department to start early cotton procurement from November first week to facilitate timely sale and income for farmers.The directives come in the wake of a delay in the last kharif season due to Covid-19 pandemic and lockdown, for which procurement centres did not open on time.“Cotton sowing in the current kharif season was done on 39.37 lack hectares. Last year, it was sown on 42.08 lakh hectares. The area under cotton sowing has declined by 6.44 per cent,” Patil said.Regarding procurement plans at the district level, the minister directed officials to ensure CCTV cameras at every centre.

*PAKISTAN COTTON MARKET UPDATE*Rates firm amid modest businessThe local cotton market remained stable on Wednesday and the volume remained satisfactory.Cotton Analyst Naseem Usman told Business Recorder that due to rains in the cotton areas of Sindh and Punjab may effect the quality of Phutti.The Spot Rate remained unchanged at Rs 12700 per maund. The Polyester Fiber was available at Rs 222 per kg.The rate of cotton in Sindh is in between Rs 11500 to Rs 12000 per maund and the rate of cotton in Punjab is in between Rs 12500 to Rs 13200 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 5500 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5000 to Rs 5600 per 40 kg. The rate of Banola in Sindh is in between Rs 15500 to Rs 16500 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 1700 per maund. The rate of cotton in Balochistan is in between Rs 12000- 13000 per maund. The rate of Phutti in Balochistan is Rs 6100- 6600 per maund. 

*Punjab mandis see 50-fold rise in cotton arrival this year*Amid high demand and better prices being offered by private players, Punjab has witnessed a 50-fold increase in the arrival of cotton crop at mandis as compared to the figures till September 21 last year.According to the Punjab Mandi Board, about 80,000 quintal crop has been purchased at various mandis in the cotton belt spread across south Punjab till September 21. In the corresponding period last kharif season, various purchase centres had reported the arrival of only 1,637 quintals.Industry sources attribute the sharp rise in arrival of the crop to better rates being offered by buyers, after last year’s uncertainty that had hit demand.Notwithstanding the deadly pink bollworm attack, Mansa and Bathinda districts have seen a brisk arrival of 27,000 and 12,000 quintals of cotton, respectively. In Fazilka, nearly 26,000 quintal cotton has been sold by farmers till September 21.According to the mandi board data, cotton is being bought for rates as high as ₹7,010/quintal. In fact, nearly 98% of the produce has been purchased at rates above the season’s expected minimum support price (MSP) of ₹5,925/quintal.This year, Punjab has an estimated 3.25 lakh hectares under cotton. In a few parts, where cotton is sown before May, picking of bolls commences in mid-August but the major harvest begins after September 15. Market watchers say last year, the demand for cotton was low due to uncertainty caused by Covid-induced restrictions.Mandi Board cotton state coordinator Rajnish Goel said the average rate of cotton in September 2020 was about ₹4,500/quintal. As the Cotton Corporation of India (CCI) starts buying the non-perishable crop from October 1, farmers have a tendency to stock the produce till the market offers a higher price.“This time the average rate of cotton is ₹6,800-7,000/quintal, which is much higher than the expected MSP. A formal notification of MSP on long-medium varieties, that are commonly sown in Punjab, has not been issued yet, but it is expected to be ₹5,925,” said Goel, adding that Punjab is expected to surpass last season’s production of 50 lakh quintals. *SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771**https://wa.me/919111977775*