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*Rupee depreciates against dollar, loses 17 paise*Rupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 17 paise at Rs 73.77 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 73.60 with a weakness of 18 paise against the dollar.*Sensex falls, breaks 77 points open*Today the stock market opened with a fall. Today the BSE Sensex fell by about 77.28 points and opened at the level of 58172.98 points. On the other hand, the Nifty of NSE opened with a decline of 33.50 points at the level of 17320.00 points.  

*PAKISTAN COTTON MARKET UPDATE**Cotton market crashes due to rains**The local cotton market on Wednesday crashed. Cotton analyst Naseem Usman said to Business Recorder that the reason behind crashing of market is rains in the cotton growing areas of Sindh and Punjab due which the supply of Phutti was affected. Second reason is the arrival of imported Phutti and liquidity crunch.**The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 200 per maund and closed it at Rs 13700 per maund. The rate of cotton in Sindh is in between Rs 12900 to Rs 13500 per maund and the rate of cotton in Punjab is in between Rs 13400 to Rs 13500 per maund. The rate of the new crop of Phutti in Sindh was in between Rs 5400 to Rs 5800 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 5900 per 40 Kg. The rate of Banola in Sindh is in between Rs 1600 to Rs 1700 per maund. The rate of Banola in Punjab is in between Rs 1650 to Rs 1750 per maund. The rate of cotton in Balochistan is Rs 13500 to Rs 13600 per maund. The rate of Phutti in Balochistan is Rs 6300 to Rs 6800 per maund.**The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 200 per maund and closed it at Rs 13700 per maund. The Polyester Fiber was available at Rs 222 per Kg.*

*ICE cotton gains as approaching storm clouds crop outlook**ICE cotton futures firmed on Wednesday on concerns that a weather disturbance developing in the U.S. Gulf of Mexico could hurt harvests in key regions, with crop conditions already downgraded in a weekly federal report.**Prices will be supported by the weather conditions in the Gulf of Mexico that are “going to bring a lot of rain to the Georgia crop, and we don’t need anymore rain as crops are already suffering,” said Keith Brown, principal at cotton brokers Keith Brown and Co in Georgia.**The U.S. National Hurricane Center said on Tuesday a system, that is currently over the central and eastern Gulf of Mexico, could form a tropical or subtropical depression as it nears the northern Gulf coast on Wednesday night or Thursday.**The U.S. Department of Agriculture (USDA)’s weekly crop progress report on Tuesday showed 61% of the cotton crop was in a good-to-excellent condition in the week ending Sept. 5, down from 70% in the prior week.**The report also said 54% of Texas crop was in good-to-excellent condition last week, down from 68% in the previous week. The downgrade in the condition of Texas crops by several percentage points is another positive for prices, Brown said.**Total futures market volume rose by 4,783 to 21,638 lots. Data showed total open interest gained 36 to 273,868 contracts in the previous session.*

*Cotton and paddy crops in 3,607 acres inundated**Although rains have abated during the day in most parts of the old undivided Khammam district on Wednesday, the heavy rains that lashed Khammam and Bhadradri-Kothagudem districts in the last few days led to inundation of cotton and paddy crops in little over 3,607 acres in both the districts.**As per the preliminary estimates by the Agriculture Department, crops including paddy and cotton in around 1,887 acres were damaged in Bhadradri-Kothagudem district, affecting as many as 1,393 farmers. Farmers in Julurupadu, Burgampadu, Sujathanagar, Tekulapalli and Palvancha mandals bore the maximum brunt of the rain fury, sources said. In Khammam district, crops, mainly paddy and cotton, were inundated by rainwater in around 1,720 acres.**Heavy rains over the past three days caused significant damage to cotton and paddy crops besides chilli seedlings, mainly in Tirumalayapalem, Kusumanchi, Mudigonda and Madhira mandals. The extensive waterlogging in agricultural fields, some of which still remained under a sheet of water in various villages in Khammam and Sattupalli divisions, is likely to affect the crop yield. Chilli farmers in the chilli growing belt of the district are worried over their crop prospects in the current kharif season as heavy rains damaged chilli seedlings in several villages in Kusumanchi, Nelakondapalli, Khammam rural and Tirumalayapalem mandals.**As per the Kharif action plan, area sown under chilli is expected to increase to little over 56,000 acres in this Kharif season as against the last year’s acreage of around 55,000 acres in Khammam district.*

*All India Weather Forecast for September 9, 2021**Countrywide weather systems*The Low Pressure Area is over North Madhya Maharashtra and adjoining Gujarat region. A Cyclonic Circulation is persisting over Punjab and adjoining areas.*Weather movement across the country during the last 24 hours*During the last 24 hours, Monsoon was vigorous over Konkan & Goa, parts of Marathwada and South Gujarat. These areas received moderate to heavy rainfall at one or two places. Light to moderate rain occurred at isolated places over South Madhya Pradesh, Vidarbha, parts of Telangana, Coastal Karnataka, North Kerala, North Odisha, Gangetic West Bengal, North Coastal Andhra Pradesh and Sikkim. Light to moderate in some parts of Northeast India, parts of Bihar, Uttar Pradesh, remaining parts of Madhya Pradesh, Chhattisgarh, Interior Odisha, Andaman & Nicobar Islands, Lakshadweep, Saurashtra & Kutch, East Rajasthan, Himachal Pradesh, Uttarakhand, Haryana rained out. and Delhi. Light rain occurred over Interior Karnataka, parts of Tamil Nadu, South Kerala, Jharkhand, Jammu and Kashmir and Ladakh.*Possible weather activity during next 24 hours*During the next 24 hours, moderate to heavy rain is likely over Gujarat.Light to moderate rain with isolated heavy rain is likely over parts of Konkan and Goa, parts of Southeast Rajasthan, Gangetic West Bengal, North Odisha and Andaman and Nicobar Islands. Light to moderate rain may occur over Interior Odisha, Sub-Himalayan West Bengal, Sikkim, Northeast India, Bihar, Jharkhand, Uttar Pradesh, Punjab, Haryana, Delhi, Uttarakhand, Himachal Pradesh, Madhya Pradesh, Chhattisgarh and Coastal Karnataka. Light rain is possible over Andhra Pradesh, Telangana, Interior Karnataka, Tamil Nadu, Kerala, Lakshadweep and East Rajasthan.

The rupee declined by 18 paise to close at Rs 73.60 against the dollar this evening.Sensex fell further, closed down by 29 pointsToday the stock market closed with a fall. Today, where the Sensex closed at a level of 58250.26 points, down by about 29.22 points. On the other hand, Nifty closed at 17353.50 points down by 8.60 points.  

Government has approved Production Linked Incentive (PLI) Scheme for Textiles. With this, India is poised to regain its dominance in Global Textiles TradeLeveraging Economies of Scale, the scheme will help Indian companies to emerge as Global ChampionsHelp create additional employment of over 7.5 lakh people directly and several lakhs more for supporting activitiesScheme will also pave the way for participation of women in large numbersIncentives worth Rs. 10,683 crore will be provided to industry over five yearsIt is expected that this scheme will result in fresh investment of above Rs 19,000 crore and additional production turnover of over Rs.3 lakh crore in five yearsHigher priority for investment in Aspirational Districts & Tier 3/4 townsScheme will positively impact especially States like Gujarat, UP, Maharashtra, Tamil Nadu, Punjab, AP, Telangana, Odisha etc.

Rupee depreciates against dollar, loses 5 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 5 paise at Rs 73.47 against the dollar. At the same time, on Tuesday, the rupee closed at Rs 73.42 with a weakness of 31 paise against the dollar.Sensex falls, breaks 25 points openToday the stock market opened with a fall. Today the BSE Sensex fell by about 24.88 points and opened at the level of 58254.60 points. On the other hand, the Nifty of NSE opened at a level of 17348.80 points down by 13.30 points.  

Pakistan Shortage of cotton, yarn: PYMA seeks duty-free import from Turkey, India, UzbekistanPakistan Yarn Merchants Association (PYMA), has appealed Prime Minister Imran Khan to take steps to reduce the cost of production of value-added textile industry, in view of the shortage of cotton, its yarn and the skyrocketing prices and allow duty-free import of cotton and yarn from Turkey, India and Uzbekistan through land routes so that exporters can compete in the ongoing price race in international markets.Hanif Lakhany, Vice President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and Senior Vice Chairman PYMA, Farhan Ashrafi, Vice Chairman PYMA and convener FPCCI’s central standing committee on yarn trading said that the value-added sector in the country is facing immense difficulties due to shortage and prices of cotton and cotton yarn reaching record levels as cotton yarn is not available to these export industries even at high prices as per the production demand.PYMA office-bearers said the exporters in the value-added sector are reluctant to accept new orders due to difficulties in procuring basic raw materials. Due to which these orders can be transferred to other countries.

All India Weather Forecast for September 8, 2021Countrywide weather systemsA Deep Low Pressure Area is persisting over Vidarbha and adjoining region, it is expected to move in a west-northwest direction. The Monsoon Trough is passing through Bikaner, Bhopal and passing through a deep low pressure area and then moving east southeast towards West Central Bay of Bengal.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Monsoon was vigorous over parts of Telangana, Vidarbha and Marathwada. These areas received moderate to heavy rain with one or two very heavy showers. Light to moderate rain with isolated heavy falls occurred at isolated places over Assam, West Bengal, Coastal Odisha, Coastal Karnataka and North West Uttar Pradesh. Light to moderate rain occurred at one or two places over North Coastal Tamil Nadu, Kerala, Lakshadweep, Rayalaseema and parts of Jharkhand. Moderate rain at one or two places was observed over parts of Interior Tamil Nadu, Chhattisgarh, parts of Gujarat, Madhya Maharashtra, South-West Madhya Pradesh, Rajasthan and rest of Northeast India. Light rain occurred over remaining parts of Rajasthan, Saurashtra and Kutch, Bihar, Interior Karnataka and Andaman and Nicobar Islands.Possible weather activity during next 24 hoursDuring the next 24 hours, moderate to heavy rains are likely over parts of Vidarbha, Marathwada, North Madhya Maharashtra, Konkan & Goa, South Gujarat and Coastal Karnataka. Light to moderate rain is very likely at isolated places over parts of West Bengal, parts of Odisha, South Madhya Pradesh, Telangana, Sikkim, parts of Assam and Andaman and Nicobar Islands. Light to moderate rain may occur over parts of Bihar, Uttar Pradesh, Jharkhand, Interior Odisha, rest of Madhya Pradesh, South Rajasthan, Western Himalayas, Punjab, Haryana, Delhi, rest of Northeast India, Kerala, Andhra Pradesh and Interior Karnataka. Light rain is possible over remaining parts of Rajasthan and Madhya Pradesh, Chhattisgarh and Lakshadweep.

The rupee declined by 31 paise to close at Rs 73.42 against the dollar this evening.Sensex declines, Sensex closed after losing 17 pointsToday the stock market closed with a fall. Today, where the Sensex closed at a level of 58279.48, down by about 17.43 points. On the other hand, Nifty closed at the level of 17362.10 points down by 15.70 points.