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Rupee depreciates against dollar, loses 20 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 20 paise at Rs 74.08 against the dollar. At the same time, on Thursday, the rupee closed at Rs 73.88 with a strength of 3 paise against the dollar.

Today evening, the rupee strengthened by 3 paise to close at Rs 73.88 against the dollar.Today the stock market closed sharply.Today, where the Sensex rose by about 85.26 points, it closed at the level of 61235.30 points. On the other hand, Nifty closed at 18257.80 with a gain of 45.50 points. Apart from this, a total of 3,499 companies were trading in BSE today, out of which about 1,745 shares closed up and 1,678 shares closed down.  

PAKISTAN COTTON MARKET UPDATEPrices continue upward march on cotton marketThe Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 200 per maund and closed it at Rs 18500 per maund. The local cotton market remained stable and the trading volume remained satisfactory.Cotton Analyst Nasseem Usman while talking to Business Recorder said that price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 6000 to Rs 8500. Cotton of Sindh was traded from Rs 15000 to Rs 19000 per maund, Punjab’s cotton was traded from Rs 16000 to Rs 18500 per maund.He told that 1000 bales of Mir Pur Mathelo were sold at Rs 18000 per maund, 400 bales of Ghotki were sold at Rs 19200 per maund and 400 bales of Chichawatni were sold at Rs 18600 per maund.The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 200 per maund and closed it at Rs 18500 per maund. Polyester Fibre was at Rs 257 per kg.

ICE COTTON SUMMARYCotton jumps over 2pc after USDA lowers US output, stocks estimatesICE cotton futures rose more than 2% on Wednesday after the U.S. Department of Agriculture (USDA) lowered U.S. production and ending stocks estimates for the 2021/22 crop year, while a weaker dollar added to the upbeat mood.“The USDA surprisingly cut the U.S. crop, which ultimately brought the ending stocks down. They also lowered exports, but overall this is a friendly report to the market,” said Keith Brown, principal at Keith Brown and Co in Georgia.In its January World Agricultural Supply and Demand Estimates (WASDE) report, the USDA projected U.S. production at 17.62 million bales for the 2021/22 crop year, about 660,000 bales lower than the previous month, bringing its ending stock estimate 200,000 bales lower to 3.20 million bales.The USDA also cut its global output estimate by about 610,000 bales to 120.96 million bales, bringing ending stocks forecast to 85.01 million bales from 85.73 million bales last month.However, the agency trimmed U.S. exports estimate by 500,000 bales to 15.0 million bales, citing lower U.S. crop and continuing logistical issues.“If we can start to see some improvement in the month of January on the logistics issues, we may not see strong cancellations,” Brown said.Further lifting cotton’s appeal, the dollar slipped to a fresh two-month low against its rivals, while oil prices hit two-month highs on tight supply as crude inventories in the United States dropped.Total futures market volume rose by 4,247 to 27,824 lots. Data showed total open interest fell 136 to 244,451 contracts in the previous session.

All India Weather Forecast for January 13, 2022Countrywide weather systemsA Cyclonic Circulation is persisting over Haryana and adjoining areas.Another Cyclonic Circulation is persisting over North Konkan and Goa. And a trough is extending from this cyclonic circulation up to Jharkhand via Vidarbha and Chhattisgarh.A Cyclonic Circulation lies over South-West Bay of Bengal.Weather movement across the country during the last 24 hoursDuring the last 24 hours, the minimum temperature has dropped by 2-3 degrees over Madhya Pradesh, Chhattisgarh, Jharkhand, parts of Bihar, Maharashtra, Gujarat and Rajasthan.Dense to very dense fog covered parts of Northwest Rajasthan, Punjab and Uttar Pradesh.Light to moderate rain occurred over Vidarbha, Chhattisgarh, Telangana and Odisha. Hailstorm activities were also observed at some places in these states.Light to moderate rain occurred in some parts of Gangetic West Bengal, Bihar, Assam and Arunachal Pradesh.Light rain and snowfall occurred at some places in Himachal Pradesh in Uttarakhand.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain may occur over parts of Vidarbha, Chhattisgarh, Telangana and Odisha. Hailstorm activities are also possible at some places in these states.Light to moderate rain and thundershowers may occur over Bihar, Jharkhand, West Bengal, Sikkim and Northeast India.Moderate rain at one or two places may occur over Andhra Pradesh, Tamil Nadu, Kerala and Andaman and Nicobar Islands.Dense to very dense fog is possible over parts of Northwest Rajasthan, Punjab and Uttar Pradesh.The minimum temperatures are likely to drop further over Central and East India.

SMARTINFOICE कॉटन समरीWASDE रिपोर्ट के अनुसार नरम डॉलर के कारण ICE कपास चढ़ाप्राकृतिक फाइबर की मजबूत मांग और कमजोर डॉलर की मदद से मंगलवार को ICE कपास वायदा 1% चढ़ा, क्योंकि अमेरिकी कृषि विभाग (यूएसडीए) की मासिक आपूर्ति और मांग रिपोर्ट पर ध्यान केंद्रित किया गया।मिसिसिपी के क्लीवलैंड में वार्नर ब्रोकरेज के अध्यक्ष रोजर्स वार्नर ने कहा, "मांग जारी है और व्यापारियों की रिपोर्ट है कि वे उचित मात्रा में कपास बेच रहे हैं।"विदेशी खरीदारों के लिए कपास कम खर्चीला बनाते हुए, अमेरिकी डॉलर अपने प्रतिद्वंद्वियों के मुकाबले 0.3% गिर गया।यूएसडीए की मासिक विश्व कृषि और आपूर्ति मांग अनुमान (डब्ल्यूएएसडीई) रिपोर्ट बुधवार को आने वाली है।टेनेसी स्थित रोज कमोडिटी ग्रुप के लुई रोज ने सोमवार को एक नोट में कहा, "यह WASDE सप्ताह है और हमें लगता है कि इस रिपोर्ट में मंदी की संभावना है, विशेष रूप से अमेरिकी निर्यात और कैरीआउट अनुमानों के संबंध में।""मार्च अनुबंध के लिए समग्र मानक दैनिक तकनीकी विश्लेषण तेज बना हुआ है। निकट-से-मध्यम अवधि में अनुबंध को 116-117 सेंट के पास प्रतिरोध और 105, 100-102, 95-96.00 और 90-92 के पास समर्थन का अनुभव करना चाहिए।अमेरिकी सरकार के फसल अनुमान से पहले शिकागो सोयाबीन, मक्का और गेहूं वायदा कीमतों में मंगलवार को तेजी रही।वायदा बाजार की कुल मात्रा 17,457 गिरकर 8,628 लॉट पर आ गई। डेटा ने दिखाया कि पिछले सत्र में कुल खुला ब्याज 1,356 गिरकर 244,587 अनुबंध पर आ गया।ICE COTTON SUMMARYICE cotton rises on softer dollar in run up to WASDE reportICE cotton futures rose 1% on Tuesday, helped by strong demand for the natural fiber and a weaker dollar, as focus turns to a closely watched monthly supply and demand report from the US Department of Agriculture (USDA).“The demand continues and merchants report that they are selling fair amounts of cotton,” said Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi.Making cotton less expensive for overseas buyers, the US dollar fell 0.3% against its rivals.The USDA’s monthly World Agricultural and Supply Demand Estimates (WASDE) report is due on Wednesday.“It is WASDE week and we think this report has bearish potential, especially with respect to the US export and carryout projections,” said Louis Rose of Tennessee-based Rose Commodity Group in a note dated Monday.“The overall standard daily technical analysis for the March contract remains bullish. The contract should experience resistance near 116-117 cents and support near 105, 100-102, 95-96.00 and 90-92 over the near-to-medium term.”Chicago soybeans, corn and wheat futures inched up on Tuesday ahead of US government crop estimates.Total futures market volume fell by 17,457 to 8,628 lots. Data showed total open interest fell 1,356 to 244,587 contracts in the previous session.

PAKISTAN COTTON MARKET UPDATEVolume of business improves as falling prices attract buyersThe Spot Rate Committee of the Karachi Cotton Association (KCA) on Tuesday decreased the spot rate by Rs 300 per maund and closed it at Rs 18300 per maund. The local cotton market remained bearish and the trading volume remained satisfactory.Cotton Analyst Nasseem Usman while talking to Business Recorder said that price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 6000 to Rs 8000. Cotton of Sindh was traded from Rs 15000 to Rs 19000 per maund, Punjab’s cotton was traded from Rs 16000 to Rs 18500 per maund.He told that 1400 bales of Ahmed Pur East, 2000 bales of Burewala, 2000 bales of Lodhran, 1000 bales of Jalal Pur were sold at Rs 18250 per maund, 800 bales of Yazman Mandi were sold at Rs 17200 per maund, 1200 bales of Fort Abbas were sold at Rs 17300 to Rs 17750 per maund, 200 bales of Vehari were sold at Rs 16800 per maund, 200 bales of Hasil Pur were sold at Rs 16600 per maund and 200 bales of Dunya Pur were sold at Rs 16300 per maund.He also told that the rate of quality cotton in the local cotton market reached at all-time high of Rs 20,000 per maund after increasing by Rs 1000 per maund.The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 300 per maund and closed it at Rs 18300 per maund. The price of Polyester Fiber was increased by Rs 5 per kg and was available at Rs 257 per kg.

INDIAN COTTON YARN MARKET UPDATECotton yarn prices in south India likely to rise next weekThe cotton yarn demand in south India remained bearish as hundreds of small and medium units have scaled down their production due to the Pongal festival season. Few varieties of cotton yarn were traded at slightly lower price, but other varieties were sold at previous prices in Tiruppur market. Traders expect prices to pick up after festivities next week.In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded steady at ₹1,910-1,990 per 5 kg and ₹1,690-1,740 per 5 kg respectively. 80 count carded cotton yarn of weft variety was sold at ₹1,890-1,940 per 5 kg, while carded cotton yarn (46 count) of weft variety was sold at ₹1,730-1,760 per 5 kg. In Ahmedabad-Rajkot region, cotton compact hosiery grey yarn 30/1 was quoted at ₹357 per kg and 30/1 weaving yarn at ₹365 per kg.In Tiruppur market, cotton yarn prices remained steady despite poor demand. Cotton yarn of 30 count combed was traded in Tiruppur at ₹350-360 per kg, 34 count combed at ₹360-365 per kg, and 40 count combed at ₹390-395 per kg. Cotton yarn of 30 count carded was sold at ₹320-325 per kg, 34 count carded at ₹325-330 per kg, and 40 count carded at ₹345-350 per kg, according to tool TexPro. Prices of cotton yarn of 30 count carded and 40 count carded declined by ₹5 per kg due to poor demand.In Tiruppur, workers have gone on holiday to celebrate Pongal and other regional festivals. “They will come back after one week. So, production activities will pick up next week in Tiruppur, Coimbatore and other textile hubs,” a Tiruppur-based trader told. “Cotton yarn price rise is inevitable when buyers come back to the markets. They have to buy yarn at any cost as they have to fulfil summer clothing demand.”A trader from Ahmedabad, Narayan Lakhotia told that cotton yarn prices remained steady as demand was very weak. “But the scenario will change at the end of this month. Fabric manufacturers will have to buy yarn at higher prices to meet demand from downstream industry. Demand for summer clothing will be good, so the prices are expected to rise for the entire value chain of textile industry.”

All India Weather Forecast for January 12, 2022Weather systems made across the countryThe Western Disturbance has moved eastwards.A cyclonic circulation can be seen over North Haryana and adjoining parts of Northwest Uttar Pradesh.A trough is extending from the cyclonic circulation over North Haryana and Uttar Pradesh to South-East Madhya Pradesh.A cyclonic circulation lies over Southwest Bay of Bengal and adjoining areas.Another Cyclonic Circulation is persisting over North Konkan and adjoining areas.Weather movement across the country during the last 24 hoursDuring the last 24 hours, dense to very dense fog fell over parts of Punjab, Uttarakhand, West Uttar Pradesh, Bihar, parts of Northwest Madhya Pradesh and 1-2 parts of Northwest Rajasthan.Light to moderate rain and snow occurred in Uttarakhand.Light rain and snow occurred in parts of Jammu and Kashmir and Himachal Pradesh.Light to moderate rain and thundershowers occurred over Vidarbha, Telangana and Chhattisgarh.Light rain occurred at isolated places over Interior Odisha, parts of Jharkhand, Madhya Pradesh and Uttar Pradesh, Tamil Nadu and North Interior Karnataka.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain with one or two heavy spells is likely over Vidarbha and Chhattisgarh.Light to moderate rain with one or two heavy spells is likely over Bihar, Jharkhand, West Bengal, Odisha, Telangana and parts of Northeast India.Light rain is possible at isolated places over Andhra Pradesh, Tamil Nadu and Lakshadweep and Andaman and Nicobar Islands.

PAKISTAN COTTON MARKET UPDATESpot Rate remains unchange on cotton marketThe Spot Rate remained unchanged. The local cotton market on Monday remained steady and the trading volume remained very low.Cotton analyst Nasseem Usman while talking to Business Recorder said that price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 6000 to Rs 8000. Cotton of Sindh was traded from Rs 15000 to Rs 19000 per maund, Punjab’s cotton was traded from Rs 16000 to Rs 18500 per maund.He told that the rate of quality cotton in the local cotton market reached an all-time high of Rs 20,000 per maund after increasing by Rs 1000 per maund.Cotton analyst Naseem Usman told that Pakistan Cotton Ginners Association in its general body meeting rejected the mini-budget. Chairman Sohail Mahmood Harl said that imposition of 17 percent GST on cotton seed oil, cotton seed cake and cotton seed had a bad impact on ginning industry.The Spot Rate remained unchanged at Rs 18600 per maund. The price of Polyester Fiber was increased by Rs 5 per Kg and was available at Rs 257 per kg. 

INDIAN COTTON YARN MARKET REPORTCotton yarn gains on higher cotton price in Indian hub of LudhianaHigher price of cotton pushed up the price of cotton yarn by ₹10-20 per kg in the north Indian knitwear hub of Ludhiana, despite poor demand. However, cotton yarn prices remained stable in other north Indian markets of Delhi and Panipat. Uncertainty regarding trading activities and severity of the third COVID wave also dented market sentiments.Cotton prices remained stable in north Indian markets today, but it has seen an increase of about ₹800-1,000 per candy of 356 kg since last mid-week. So, spinning mills have increased cotton yarn prices in the entire north Indian market, according to market sources.While slightly better demand allowed spinners to materialise price rise in Ludhiana market, the same could not happen in Delhi, according to trade sources. Traders said that consumer industries are buying yarn in very limited quantity only for their immediate need.Suresh Gupta, a trader and patron of Delhi Yarn Merchants Association told that recent fresh restrictions amid third wave of coronavirus are also disrupting market activities. Traders and downstream industries are facing problems in smooth functioning in view of worries over the spread of coronavirus.Cotton yarn of 20 and 30 counts in combed variety were traded higher by ₹20 at ₹355-365 per kg and ₹365-375 per kg respectively in Ludhiana. Carded yarn in 30 counts was quoted at ₹330-340 per kg. However, cotton yarn of 30 count combed was traded steady in Delhi at ₹370-380 per kg, 40 count combed at ₹410-420 per kg, 30 count carded at ₹350-360 per kg, and 40 count at ₹380-390 per kg, according to market analysis tool TexPro. 10 count weaving (O/E) yarn was quoted at ₹125-130 per kg, while 16 count weaving (O/E) was at ₹165-170 per kg.Panipat, a recycled yarn market in north India, also recorded stable trend. The market recorded prices as: 10s recycled yarn (white) at ₹95-100 per kg, 10s recycled yarn (dyed) at ₹90-100 per kg, and 20s recycled yarn (dyed) ₹100-125 per kg. 10s Optical yarn was traded at ₹90-100 per kg in the market.