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.
All India Weather Forecast for May 04, 2022Weather systems made across the countryA Western Disturbance is over Western Himalayas and another Western Disturbance is over North Afghanistan.The induced cyclonic circulation is over central Pakistan and adjoining parts of Punjab.A trough is extending from a cyclonic circulation over Central Pakistan and adjoining Punjab to Sub-Himalayan West Bengal across Uttar Pradesh and Bihar.Another trough is extending from Central parts of Uttar Pradesh to Rayalaseema across East Madhya Pradesh, Vidarbha and Telangana.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over West Bengal, Northeast parts of Bihar, Assam and Arunachal Pradesh.Light to moderate rain occurred over Sikkim, North East India and North Coastal Andhra Pradesh.Light rain occurred over Lakshadweep, Kerala, Interior Tamil Nadu, Chhattisgarh and Vidarbha, Madhya Pradesh, central parts of Uttar Pradesh, southeast Rajasthan and parts of Jammu and Kashmir.Heat wave conditions persisted over isolated parts of North Rajasthan and South Haryana.Probable weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls is likely over Northeast India, West Bengal, Sikkim and Andaman & Nicobar Islands.Light to moderate rain is possible over West Bengal, Bihar, Odisha, Chhattisgarh and Western Himalayas.Moderate rain with one or two places is possible over East Uttar Pradesh, Kerala, Interior Tamil Nadu and South Karnataka.Light rain is very likely over parts of North Interior Karnataka, Andhra Pradesh and Telangana.Light rain and thundershowers may occur over parts of Punjab, Haryana, Delhi, North Rajasthan and West Uttar Pradesh.
Cotton arrival figures revealed, arrivals decreased by 27 percent compared to last yearThere are constant speculations about the arrival of cotton but the situation is still not clear. How much more arrivals are yet to come in the season, it can only be guessed. But, so far in the season 2021-22, how much has arrived from October to April. We are telling you through this news the exact figure of how much cotton has come in which state and what is the difference in arrival this time compared to last year. We all know that there has been a lot of decline in the arrival of cotton this season. If we look at the figures, there has been a decrease of 27 percent in the total arrivals in India between October and April in 2021-22 as compared to 2020-21.South Zone was behindSouth Zone, an important area of cotton arrival, was at the back of the race this time. Last season, the arrival of 87,35000 bales was registered, whereas this year only 55,06,600 cotton bales have been recorded. Which is 32,28,400 bails i.e. 37 percent less than the last season. Last season's arrivals in North Zone stood at 63,81,000 and this time 44,07,300 bales came here. A decrease of 19,73,700 bales i.e. a difference of 31 percent was recorded here. Talking about the Central Zone, where 1,80,25,000 cotton bales were recorded last year in the Central Zone, this time the arrival of 1,42,64,000 has been recorded so far. Which is 37,61,000 less. This difference in percentage is 21 percent.Madhya Pradesh is better than other statesIn comparison to other states, the arrival of cotton in Madhya Pradesh is still better. The least difference in arrivals has been seen here when compared to the previous season. The arrival here has come down by only 9.48 percent. Which is the lowest among other states. Whereas Tamil Nadu has been a state where a huge difference has been registered in arrivals this season. Compared to 2020-21, the total cotton arrival here in 2021-22 has been 56.25 percent less. Besides, Punjab, Haryana, Telangana, Orissa and Andhra Pradesh have also registered a decrease of more than 30 percent in cotton arrivals.
The stock market fell on the first day of the trading week, the Sensex fell by 85 points and reached 56975.99at the level of. Rupee weakens again against dollar, with a decrease of 9 paise on Monday, the price was 76.52. A day before Akshaya Tritiya, gold prices declined by Rs 734 to Rs 51,020. Cotton physical market remained stable for the third consecutive day, no sale or purchase took place. Indian oil and seed market also remained stable, while US oil and seed market fell sharply
A stormy rise in the price of yarnSSM Mills announced a significant increase in the prices of cotton yarnSri Saravana Mills Pvt. Ltd., a well-known Spinning Mill located in Tiruppur, South India. has made an important announcement regarding the prices of yarn. Milske officials have informed that the price of cotton yarn has increased by Rs 40 per kg. Actually, the price has increased by 100% cotton knitting yarn count. Based on these increased prices, some industry experts have also launched new estimated ratelists. According to this rate list, the rates for different counts of yarn range from about Rs 407 to Rs 465. It is clear that due to increase in the prices of yarn, the cost of garment manufacturer will increase. Have a look at the increased rate list-
Today evening, the rupee depreciated by 9 paise to close at Rs 76.52 against the dollar.Sensex closed down 85 pointsToday the stock market closed with a fall. Today, where the Sensex fell by about 84.88 points, closed at the level of 56975.99 points. On the other hand, Nifty closed at the level of 17069.10 points down by 33.40 points.
The stock market started on the red mark, Sensex fell more than 480 pointsOn the first trading day of the month of May i.e. on Monday, May 2, the stock market opened with a big fall. The stock market started on the red mark on the first trading day of the week amid weak
Know how this fortnight was for textile investors:A look at the stock report of major textile companies from 18 to 30 AprilThe stock market has seen ups and downs almost every day in the month of April. One day the Sensex is down and the next day there has been a tremendous increase in the Sensex data. Many times the market has changed a lot in a single day. Such a situation of confusion has also taken investors by surprise. If we look at the report of the last 15 days, then there has been a lot of volatility in the shares of the major companies of the textile segment. However, the market cap of most of the companies has remained negative. Let's know BSc
Three lakh bales of cotton soon to arrive India post the duty removal announcement.Immediately after the government declared the duty free import of cotton, some of large mills have ordered around 3 lakh bales. Each bale is 170 kg and will probably arrive India by mid-June from US. The mill owners have bought mainly the short staple cotton which is 27.5 mm length. As per the sources, the deals were closed at Rs. 89,000/- per candy (356 kg each FOB). Commonly, Indian cotton industries consume medium staple cotton which measures 28.5 mm length. Short staple cotton can be used in similar ways when blended with medium staple cotton. Although, as of now it is uncertain that whether the import deals proves beneficial financially for mill owners or not because we are unaware of the Indian market in mid-June, but at the same time the import has surely brought availability of crop to the market.Traders also asserts that the decision is good and welcomed, however delayed. If it had come earlier say in February, industrialists must have imported approximately 40 lakh bales. But it came in mid-April which couldn’t fulfil the shortfall in domestic market. Now, the estimated arrival is merely 10-12 lakh bales by September current year.Nevertheless, mills are importing cotton just to regulate the chain and supply. Also, on the flip side thin demands from weaving and garment industry doesn’t allow spinners to import expensive cotton.
Market News Bulletin
Government also has hope from cotton, encouraging farmers to cultivate cottonGovernments of various states engaged in promoting cotton farming, cotton is being recognized as a profit making cropThe unimaginable rise in the price of cotton has attracted everyone. Be it farmers or traders or the government, all are looking at cotton as a profit making crop. Many farmers are leaving their traditional farming and turning to cotton farming. Governments are also promoting cotton as a profit making crop at their level. Recently, the Telangana government has prepared an incentive scheme for farmers to plant 70 to 75 lakh acres of cotton in the coming Kharif season, which will be about 35 lakh acres more than paddy. . Along with this, the Telangana government is trying its best to ensure that the farmers do not face any shortage of fertilizers or seeds for the cotton crop.Sowing is dependent on monsoonTelangana Chief Minister K Chandrashekhar Rao has given green signal to the crop plan prepared by the Department of Agriculture and Horticulture for the upcoming Kharif season. And directed the Agriculture Department to make the farmers aware about the cultivation of profitable crops especially cotton. Agriculture Department's M Raghunandanarao has confirmed that this time 70 to 75 acres of cotton will be promoted in Telangana, although the actual sowing will also depend on the monsoon. If the rains are early and good, the chances of a good crop can increase. This time in Telangana, cotton is being encouraged more than paddy, as cotton prices have reached a record high of Rs 13,000 per quintal this season.Telangana cotton demand in international marketApart from Telangana, awareness campaigns are being run by the government to cultivate cotton in Haryana, Punjab, Maharashtra, Orissa and Madhya Pradesh. In order to promote indigenous cotton, the Haryana government is providing incentives up to Rs 3,000 per acre to the farmers, while the Punjab and Haryana governments are running awareness campaigns to save the cotton crop from pink bollworm disease. One of the reasons for promoting cotton cultivation in Telangana is that the demand for cotton in the international market is very high.
Today evening, the rupee strengthened by 6 paise to close at Rs 76.42 against the dollar.Today the stock market closed with a fall.Today, where the Sensex closed at a level of 57060.87 points, down by about 460.19 points. On the other hand, Nifty closed at the level of 17102.50 points down by 142.50 points.
“The duty exemption on cotton import is just not enough, traders and stakeholders demands for other measures”The cotton fraternity welcomes the decision of the government of removal of duty on cotton import, but it should have come earlier ,says the stakeholders. Sumit Jain, MD of a Delhi based Textile Company asserts that had the decision came 6-7 months earlier we wouldn’t have cancelled several orders due to the steep price hikes. Many business commitments couldn’t get fulfilled as the surging in prices every fortnight derailed the original manufacturing plans and their timeline.Several factors contribute to the spike in rates including the rise in demand but lack of supply and excessive rainfall in some major cotton growing areas. Also, the irregularity in the supply chain and logistics has disrupted the global trade affair.Firms like MSME are really facing a tough time with their production from past 8-10 months. The traders and exporters are now looking for some more perks to stabilize the industry. Firstly, government should take a firm stand to control the export of raw cotton, in order to add value to cotton products. The Home Textile Welfare Association (HEWA) urges the government to put serious checks on the uncontrolled export of raw materials to competitive countries like China and Bangladesh..
Rupee depreciates against dollar, breaks 9 paiseIn the foreign exchange market, the rupee opened with a fall today against the dollar. Today the rupee opened with a fall of 9 paise at Rs 76.57 against the dollar. At the same time, the rupee on Thursday closed at Rs 76.48 with a strength of 5 paise against the dollar.
Sensex rises further, opens up 315 pointsToday the stock market opened with great momentum. Today, the BSE Sensex opened with a gain of 314.65 points at the level of 57835.71 points. On the other hand, the Nifty of NSE opened with a gain of 86.20 points at the level of 17331.20 points.
*All India Weather Forecast for April 29, 2022**Weather systems made across the country*A Western Disturbance is persisting over North Jammu and Kashmir and adjoining parts of Pakistan.A Cyclonic Circulation is persisting over Bihar and adjoining areas.A contour is passing from Vidarbha to South Tamil Nadu through Telangana and Interior Karnataka.Another fresh Western Disturbance is likely to reach Western Himalayas by May 2.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred over parts of Assam, Meghalaya, Arunachal Pradesh and Kerala.Light rain occurred in 1-2 parts of Nagaland, Manipur and North Interior Karnataka and South Chhattisgarh.Heat wave conditions prevailed over some parts of Gangetic West Bengal and parts of Bihar, West Rajasthan, Odisha, Vidarbha and Saurashtra Kutch.*Weather activity likely during next 24 hours*During the next 24 hours, isolated light rain with isolated falls over parts of Sikkim, Sub-Himalayan West Bengal, Assam, Meghalaya, Arunachal Pradesh, parts of Kerala, Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, Ladakh and Himachal Pradesh. But there may be moderate rain.Light rain is possible over one or two parts of Manipur, Mizoram, Karnataka and South Chhattisgarh, Andhra Pradesh and Andaman and Nicobar Islands.Heat wave conditions are possible over Vidarbha, Rajasthan, parts of Madhya Pradesh and one or two parts of Uttar Pradesh, Jharkhand, Bihar, West Bengal, Odisha, Gujarat, Haryana, Delhi and Punjab.
Share market investors are happy, Sensex rises 702 points to reach 57,521.06 level. Rupee strengthens by 5 paise against the dollar, the dollar lost its value to Rs 76.48. The period of volatility continues in the cotton physical market, prices increased by Rs 500 to 1000 in almost all the mandis, no sale took place.Malaysia imposed ban on oil export, new policy came into force from Thursday. According to the exchange market, Malaysia Palm Oil fell 260 Ringint in May and closed at 7497.
U.S. EXPORT SALES FOR WEEK ENDING 21/04/2022 Cotton: Net sales of 121,100 RB for 2021/2022 were up noticeably from the previous week and up 19 percent from the prior 4-week average. Increases primarily for China (61,400 RB, including decreases of 7,600 RB), Vietnam (25,300 RB, including 1,700 RB switched from China, 700 RB switched from South Korea, and 500 RB switched from Japan), India (12,700 RB, including decreases of 5,500 RB), Pakistan (11,600 RB), and Turkey (4,700 RB), were offset by reductions for Ecuador (600 RB), South Korea (400 RB), Japan (300 RB), and Colombia (100 RB). Net sales of 49,500 RB for 2022/2023 primarily for El Salvador (28,800 RB), Honduras (11,400 RB), Peru (5,100 RB), Guatemala (4,500 RB), and Vietnam (4,400 RB), were offset by reductions for China (11,200 RB). Exports of 386,000 RB were up 5 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to China (117,900 RB), Vietnam (67,400 RB), Pakistan (57,600 RB), Turkey (43,300 RB), and Mexico (17,500 RB). Net sales of Pima totaling 13,000 RB were up noticeably from the previous week and from the prior 4-week average. Increases were reported for China (10,300 RB), Vietnam (1,700 RB), India (700 RB), Colombia (200 RB), and Malaysia (100 RB). Net sales of 500 RB for 2022/2023 were reported for Japan (300 RB) and Peru (200 RB). Exports of 4,400 RB were down 70 percent from the previous week and 69 percent from the prior 4-week average. The destinations were primarily to Peru (2,000 RB), China (1,600 RB), Vietnam (400 RB), Turkey (200 RB), and Bangladesh (100 RB). Optional Origin Sales: For 2021/2022, the current outstanding balance of 57,200 RB is for Vietnam (52,800 RB) and Pakistan (4,400 RB). Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance is 100 RB, all Vietnam.