This evening, the rupee closed at Rs 83.24 against the dollar with a weakness of 3 paise.On the first day of the new year, the stock market again made an all-time high.On the very first day of the new year, Sensex and Nifty again made the record of all-time high. However, later the indices could not hold there and closed with a slight rise. Today Sensex made a new all-time high of 72,561.91 points during the day. Nifty made a new all-time high of 21,834.35 points.
Rupee jumps against dollar, strengthens by 5 paiseThe rupee opened 5 paise stronger at Rs 83.16 against the dollar. On Friday, the rupee closed at Rs 83.21 against the dollar with a weakness of 4 paise.Nifty and Sensex started with decline on the first day of the yearToday BSE Sensex opened with a fall of 147.58 points at the level of 72092.68 points. Whereas NSE's Nifty opened with a fall of 30.70 points at the level of 21700.70 points. A total of 3,891 companies started trading in BSE today.
Possibility of unseasonal rain in Madhya Pradesh and ChhattisgarhUnseasonal rains are expected in many parts of these states between January 1 and 3, which will bring a welcome change and increase soil moisture.This meteorological change can be attributed to the confluence of two wind systems. The lower level easterly winds will meet their north-western counterparts, creating favorable conditions for rainfall. Additionally, a cyclonic circulation forming over northwest India will interact with humid winds coming from the Bay of Bengal, further increasing the chances of rain.The good news is that rainfall is expected to be light and widespread, reducing the risk of flooding or disruption. However, this will result in a significant increase in soil moisture, which may prove beneficial for upcoming agricultural cycles.While the minimum temperature may increase due to increase in clouds and greenhouse effect, the maximum temperature is expected to drop slightly. It provides a pleasant respite from the usual winter cold, providing both warmth and moisture to the area.By January 5 the rains will end, leaving behind a fresh landscape and new hopes for bountiful weather. So, Madhya Pradesh and Chhattisgarh, gear up for a unique January surprise as the rain dances in, bringing a touch of unexpected magic to your winter days.
This evening, the rupee closed at Rs 83.21 against the dollar with a weakness of 4 paise.Today the Sensex closed at the level of 72240.26 points with a fall of about 170.12 points. Whereas Nifty closed at the level of 21731.40 points with a fall of 47.30 points. Apart from this, a total of 3,891 companies were traded in BSE today, out of which about 2,029 shares closed with gains and 1,739 shares closed with decline. There was no difference in the share prices of 123 companies. Today 337 stocks have closed at their highest level in 52 weeks.
This evening, the rupee strengthened by 18 paise and closed at Rs 83.16 against the dollar.Today the Sensex closed at 72410.38 points with a gain of about 371.95 points. Whereas Nifty closed at the level of 21778.70 points with a gain of 123.90 points. These closing levels of Nifty and Sensex are all time high.
Merchant ship attacks spike textile export freight costsRed sea is one of the busiest trade routes that connects Europe and Asia, but the recent attacks have forced merchants ships to take the circuitous route around Africa adding an extra 6,000 nautical milesThe deteriorating situation in the past week following Hamas-supporting Houthi rebels attacks on merchant ships in the Arabian Sea has raised freight rates by 40% with the possibility of this going up, say India’s textiles traders.Red sea is one of the busiest trade routes that connects Europe and Asia, but the recent attacks have forced merchants ships to take the circuitous route around Africa adding an extra 6,000 nautical miles and an additional 15 days to the transit time leading to steep increase in freight rates and insurance premiums, said Badresh Dodhia, chairman of the Synthetic and Rayon Textiles Export Promotion Council.Most of India’s of textile and clothing shipments pass through the Suez Canal, and while freight rates had stabilised in recent months after witnessing spikes during the COVID-19 years, fears are rising in several sectors of a similar situation now.Mr. Dodhia urged the Government to support the textile and clothing exporters with higher duty drawback on schemes like the Rebate of State and Central Taxes and Levies and Remission of Duties or Taxes on Export Products to better manage the current situation.
MSMEs in Coimbatore, Tiruppur form human chain demanding reduction in power chargesThousands of people from the Micro, Small and Medium-scale Enterprises (MSMEs) sector formed a human chain in Coimbatore city on Wednesday demanding revision of fixed power charges.The Tamil Nadu Industrial Electricity Consumers Association had called for a State-wide protest on Wednesday demanding downward revision of fixed power charges, withdrawal of peak hour charges and withdrawal of networking charges for rooftop solar energy generation.J. James, co-ordinator for the association, said fixed charges have increased from ₹3,500 a month to ₹17,000. “The government’s stand to not reduce the charges will result in a washout of the MSMEs in the State. The MSMEs staged human chain protest in 25 districts in the State on Wednesday. In Coimbatore, not just the unit owners, but their family members and workers also took part. AIADMK MLAs Amman Arjunan and K. R. Jayaram, former MLA M. Arumugam (CPI) and several other political leaders participated in Coimbatore,” he said.Members of as many as 23 industrial associations took part in the protest in Coimbatore. They held placards and shouted slogans demanding reduction in power charges.In Tiruppur, members of as many as 38 industry organisations formed human chains at vantage locations. The participants displayed placards highlighting the debilitating impact of the peak hour charges on the productivity and output in the textile domain.
Cotton procurement by CCI in the state acceleratedAmid a surge in cotton arrivals and low prices in the spot markets of Madhya Pradesh, there has been a pick-up in cotton procurement by the Cotton Corporation of India (CCI), a nodal agency set up under the Textiles Ministry for trading and procurement of cotton. pick up speed.CCI has procured about 55,000 bales (1 bale is 170 kg) of raw cotton till December 25 at the minimum support price (MSP) set by the government.The MSP for medium staple cotton is Rs 6,620 per quintal while for long staple cotton it is Rs 7,020 per quintal.“We have procured 55,000 bales of cotton so far in the state,” said a CCI official on condition of anonymity. Cotton arrivals have increased in spot markets and we will continue purchasing as long as prices remain low or around MSP. We are purchasing produce from farmers as per standard quality parameters and farmers should not panic after seeing low prices.Cotton traders said that the daily arrival of cotton in the spot markets of Madhya Pradesh is estimated to be 40,000 quintals, of which more than 60 percent is procured by CCI. The nodal agency is purchasing raw cotton from farmers after checking the moisture content and other quality parameters of the produce.CCI has established 21 procurement centers in Madhya Pradesh. Most of these centers were established in Nimar and Malwa region like Khargone, Khandwa, Kukshi, Dhamnod and other trading centres. CCI gives the purchased produce to contracted ginning units for processing in every state.Kailash Aggarwal, a cotton farmer and owner of ginning units in Khargone, said, “Due to the fall in prices, farmers have increased the supply of cotton in the spot market, but most of the supply is going to CCI and only limited quantity is going to the market for traders. She is coming." , Quality produce is purchased by CCI.The Cotton Association of India (CAI) in its crop estimate for November has estimated cotton production in Madhya Pradesh to decline to 18 lakh bales from 19.5 lakh bales in the previous season.
This evening, the rupee closed at Rs 83.34 with a weakness of 15 paise against the dollar.Today Sensex closed at 72038.43 points with a rise of 701.63 points. Whereas Nifty closed at the level of 21654.80 points with a gain of 213.50 points. Apart from this, a total of 3,914 companies were traded in BSE today, out of which about 1,992 shares closed with gains and 1,812 shares closed with decline. There was no difference in the share prices of 110 companies. Today, 361 stocks have closed at their 52-week high.
China's 2023 cotton production is 5.618 million tonsChina's cotton production this year stood at 5.618 million tonnes, official data showed on Monday, down from 2022 partly due to adverse weather conditions in the key producing region.According to the National Bureau of Statistics (NBS), annual production was down 6.1 percent from the previous year, while the total cotton area area was down 7.1 percent to 2.7881 million hectares. Meanwhile, the national average production per hectare increased by 1.1 percent.NBS official Wang Guirong said Xinjiang, the country's largest cotton-producing region, experienced unsatisfactory weather conditions such as low temperatures and excess rainfall in the spring and long-lasting heat in the summer, with low yields in areas with low yields. I. Slight decline in per hectare production.Crops per hectare in the Yangtze River basin increased due to a low foundation due to persistent high temperatures and drought last year, while production per hectare also increased in planting areas along the Yellow River due to better management, Wang said.
This evening, the rupee closed at Rs 83.19 against the dollar with a weakness of 5 paise.Today Sensex closed at 71336.80 points with a rise of 229.84 points. Whereas Nifty closed at the level of 21441.30 points with a gain of 91.90 points.
New cotton prices fall due to fewer buyersIncrease in cotton supply in the spot markets amid decline in buying from textile mills has pushed down the prices of new season cotton, leading to increased buying by the Cotton Corporation of India (CCI).Cotton traders said the daily arrival of cotton in the spot markets of Madhya Pradesh is estimated at 40,000 quintals, of which more than 60 percent is procured by CCI.Kailash Aggarwal, a cotton farmer and owner of ginning units in Khargone, said, “This is the peak season when mills buy cotton in bulk, but this time the demand has gone down and this has left ginners with huge stocks. “Supply is abundant in spot markets but buyers are few.”Traders said, CCI has started procurement since last one month, but it has increased in last one week amid surge in arrival of farmers.Most of the quality produce is purchased by CCI from farmers at minimum support price, he said. Traders said the decline in demand for cotton has increased the concerns of farmers and ginners. Traders said cotton was trading at Rs 54,000 per candy in the spot markets of MP, while in October it was Rs 62,000 to Rs 63,000 per candy.
This evening, the rupee strengthened by 14 paise and closed at Rs 83.14 against the dollar.Today the Sensex closed at 71106.96 points with a gain of about 241.86 points. Whereas Nifty closed at the level of 21349.40 points with a gain of 94.40 points. Apart from this, a total of 3,883 companies were traded in BSE today, out of which about 2,443 shares closed with gains and 1,317 shares closed with decline. There was no difference in the share prices of 123 companies. Today, 241 stocks have closed at their 52-week high.
Cotton supply estimated at 345 lakh balesThe Cotton Association of India (CAI) estimates the total cotton supply in the country for the 2023-24 cotton season to be 345 lakh bales (170 kg each).It has retained the cotton pressure estimate for the 2023-24 season at 294.10 lakh bales. The association said the total consumption would be 311 lakh bales. CAI estimates that the total cotton production from Gujarat will be about 9 lakh bales less than last year's 85 lakh bales.CAI released the November estimate of 294.10 lakh bales for cotton pressing numbers for the 2023-24 season starting October 1, 2023.Total supply by the end of November 2023 is estimated to be 92.05 lakh bales, which includes arrivals of 60.15 lakh bales in market yards, imports of 3 lakh bales and opening stock of 28.90 lakh bales.Furthermore, CAI estimates that cotton consumption by the end of November 2023 will be 53 lakh bales while export shipments during this period are estimated at 3 lakh bales.CAI estimates consumption for the 2023-24 season at 311 lakh bales. Consumption by November 30, 2023 is estimated to be 53 lakh bales. Gujarat is the largest cotton producing state in the country and its cotton supply this year will be around 85 lakh bales, compared to around 94 lakh bales last season.Source: TOI
CCI purchased 9 lakh bales.According to the Cotton Association of India (CAI), cotton production for the 2023-24 (October-September) season is estimated at 296 lakh bales - the lowest in 15 years.Amid low demand, pink bollworm infestation has made cotton less attractive in the Indian market. Moreover, farmers have been left to knock the doors of the Cotton Corporation of India (CCI). So far, the nodal agency has procured around 9 lakh bales (at MSP) worth around ₹3,600 crore this season.The government has fixed the MSP for medium staple cotton at ₹6,620 per quintal and for long staple cotton at ₹7,020 per quintal."We have procured around 9 lakh bales across India. Now, our share in procurement is 30-40% of daily arrivals," said Lalit Kumar Gupta, chairman and managing director of CCI.He said the pace of procurement across India has reached 2 lakh bales per day. “Maximum procurement takes place in Telangana and Andhra Pradesh where prices are low.” The lowest market price of cotton in Telangana is around ₹5,500 per quintal and in Andhra Pradesh it is around ₹4,200. Meanwhile, infection is not a matter of concern in these states.Due to pink bollworm infection, farmers in states like Punjab, Haryana and Rajasthan are finding it difficult to sell their cotton to CCI. Gupta said, while other states are providing good quality cotton, cotton coming from Punjab, Haryana and Rajasthan is largely affected."In Punjab, Fazilka and Muktsar are two districts where quality is an issue. Both these districts are affected by pink bollworm. Therefore, most of the cotton coming to CCI is either infected or damaged cotton. We cannot compromise on quality." "We need to purchase carefully. We buy only cotton that meets the quality standards," Gupta said.CCI has purchased cotton worth ₹120 crore in Punjab. The agency is purchasing around 1,500-2,000 bales daily from the area. Gupta said farmers generally expect to procure cotton from CCI, even if the quality is not up to standards. "We are holding a coordination committee meeting with various officials. We are coordinating with the government to address various concerns."Meanwhile, another region where cotton prices have declined is Maharashtra. “CCI has set up centers here and farmers are slowly coming to the centres.”
This evening, the rupee closed at Rs 83.28 with a weakness of 11 paise against the dollar.Today passed amidst huge ups and downs in the stock market. Today the stock market opened with a huge fall, but finally closed with a good rise. Today the Sensex closed at 70865.10 points with a gain of 358.79 points. Whereas Nifty closed at the level of 21255.00 points with a gain of 104.80 points.
Today where the Sensex closed with a fall of around 930 points.The rupee strengthened by 1 paise to close at Rs 83.17 against the dollar this evening.Today, the Sensex closed at the level of 70506.31 points with a fall of around 930.88 points. At the same time Nifty closed at the level of 21150.20 points with a fall of 302.90 points. Apart from this, a total of 3,921 companies traded on the BSE today, out of which around 661 shares closed with gains and 3,175 shares closed with declines. There was no difference in the share price of 85 companies. Today, 352 stocks closed at 52-week highs.
Major events in the international cotton market in 2023International cotton prices showed a volatile trend in 2023. The supply side was supported by speculation about production cuts in the first half of the year, but after the market absorbed this bullish factor, support became limited. On the consumption side, the weak trend continued as the stocking process of textile and apparel products in various countries has not yet ended, and expectations for the peak season were reduced. There were few new orders and the global consumption recovery process was slow. Global cotton prices were under downward pressure as the new crop for the 2023/24 season gradually hit the market. Presently the arrival of cotton is at its peak, more than 2 lakh bales are arriving every day. The price of cotton and cottonseed is at its lowest level of Rs 2200, the main reason for which is said to be the reduction in oil content by pink bollworm due to which only 50 percent oil is coming out of the cottonseed.January :2022/23 global cotton production forecast shifted from production growth to production decline, with the Cotton Association of India broadly adjusting its Indian cotton production forecast downwards in its January report.February :Pakistan's foreign exchange reserves decreased, huge fall in Pakistani rupeeExport sales of American cotton increased significantly.marchThe USDA projected higher cotton inventories in the 2022/23 season in its March report.Banking system issues caused cotton prices to decline.Brazilian cotton prices declined due to increasing export pressure.aprilUS cotton export sales entered the oversold phase and cuts increased.MayIndian cotton arrivals increased against the weather.US cotton abandonment was expected to decline by half from the previous year.juneProgress on new cotton planting in America was slowjulyStrong expectations for good cotton production in Brazil and Australia.CONAB estimates that Brazilian cotton inventory accumulation pressure has increased.China announced allocating an additional 750kt sliding-scale duty quota.augustSoil moisture in Texas, USA deteriorated and the good-to-excellent ratio of American cotton was reduced.USDA cuts US cotton production by a massive 550kt.SeptemberThe rainfall gap in India widened and expectations regarding production shifted from production growth to production cuts.Brazilian agricultural products rushed to market, causing shortages in shipments and making cotton difficult to ship.Supply increased markedly as Pakistani cotton entered the market earlier.octoberUS cotton export sales increased due to purchases from ChinanovemberIndian cotton prices reached MSP and CCI started purchasing seed cotton.Delayed rains forced growers in Brazil to plant cotton instead of soybeans.DecemberUSDA forecasts global cotton consumption to decline.Source: CCF
The rupee closed at Rs 83.18 this evening with a weakness of 12 paise against the dollar.Today, the Sensex closed at 71437.19 points with a gain of around 122.10 points. At the same time Nifty closed at the level of 21453.10 points with an increase of 34.40 points.
This evening, the rupee closed at Rs 83.06 with a weakness of 6 paise against the dollar.Today Sensex closed at 71315.09 points with a fall of 168.66 points. Whereas Nifty closed at the level of 21418.70 points with a fall of 38.00 points. Apart from this, a total of 4,028 companies were traded in BSE today, out of which about 2,176 shares closed with gains and 1,711 shares closed with decline. There was no difference in the share prices of 141 companies. Today 385 stocks have closed at their 52-week high.
| title | Created At | Action |
|---|---|---|
| This evening, the rupee closed at Rs 83.24 against the dollar with a weakness of 3 paise. | 01-01-2024 17:25:26 | view |
| Rupee jumps against dollar, strengthens by 5 paise | 01-01-2024 10:18:42 | view |
| Possibility of unseasonal rain in Madhya Pradesh and Chhattisgarh | 30-12-2023 13:04:47 | view |
| This evening, the rupee closed at Rs 83.21 against the dollar with a weakness of 4 paise. | 29-12-2023 16:34:30 | view |
| This evening, the rupee strengthened by 18 paise and closed at Rs 83.16 against the dollar. | 28-12-2023 16:37:47 | view |
| Merchant ship attacks spike textile export freight costs | 28-12-2023 15:02:12 | view |
| MSMEs in Coimbatore, Tiruppur form human chain demanding reduction in power charges | 28-12-2023 13:16:36 | view |
| Cotton procurement by CCI in the state accelerated | 28-12-2023 11:23:39 | view |
| This evening, the rupee closed at Rs 83.34 with a weakness of 15 paise against the dollar. | 27-12-2023 16:31:55 | view |
| China's 2023 cotton production is 5.618 million tons | 27-12-2023 12:17:06 | view |
| This evening, the rupee closed at Rs 83.19 against the dollar with a weakness of 5 paise. | 26-12-2023 16:30:52 | view |
| New cotton prices fall due to fewer buyers | 25-12-2023 12:18:25 | view |
| This evening, the rupee strengthened by 14 paise and closed at Rs 83.14 against the dollar. | 22-12-2023 16:29:01 | view |
| Cotton supply estimated at 345 lakh bales | 22-12-2023 11:30:35 | view |
| CCI purchased 9 lakh bales. | 22-12-2023 10:54:45 | view |
| This evening, the rupee closed at Rs 83.28 with a weakness of 11 paise against the dollar. | 21-12-2023 17:30:03 | view |
| Today where the Sensex closed with a fall of around 930 points. | 20-12-2023 16:35:09 | view |
| Major events in the international cotton market in 2023 | 20-12-2023 15:20:14 | view |
| The rupee closed at Rs 83.18 this evening with a weakness of 12 paise against the dollar. | 19-12-2023 16:39:42 | view |
| This evening, the rupee closed at Rs 83.06 with a weakness of 6 paise against the dollar. | 18-12-2023 16:35:52 | view |
