Sensex opened sharply today, up 216 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 215.76 points to open at the level of 58677.05.
Today evening, the rupee depreciated by 9 paise to close at Rs 74.99 against the dollar.Today the stock market closed sharply. Today, where the Sensex gained about 776.50 points, closed at the level of 58461.29 points. On the other hand, Nifty closed at the level of 17401.70 points with a gain of 234.80 points. Apart from this, a total of 3,400 companies were trading on the BSE today, out of which about 2,202 shares closed up and 1,049 shares closed down.
Heavy Rains Caused Major Losses for Cotton Farmers in Tamil NaduHeavy incessant rains and water-logging have led to huge losses for cotton farmers of Tamil Nadu, especially those in Tiruchi district, which is considered the hub of the crop in the state.The Agriculture and Farmers Welfare Department teams that conducted an inspection of cotton farms have come to a report that almost 60% of the cotton farms in Tiruchi were destroyed, leading to heavy losses for farmers.The department has assessed that cotton cultivated in about 5,500 hectares has been totally destroyed in the rains. In Tiruchi, cotton was cultivated in more than 10,000 hectares.Farmers were expecting a good season as cotton prices had touched an all-time high and in Tamil Nadu, the market price was Rs 76 per kg during the commencement of the season.Talking to IANS, Velmurugan, a cotton farmer at Thurayur in Tiruchi, said: "We were expecting a good profit and the rains came when we were about to harvest the cotton. Now almost all is lost and we have appealed to the state government to provide good compensation. I have cultivated cotton expecting that I could square off my liabilities with this year's crop, but things have turned upside down and I have fallen into more debt."In Madurai also, several cotton farmers have lost their whole crop leading to huge losses. A senior Agriculture Department official told IANS that they have done a field study on the estimated losses of cotton and will make a compilation based on the studies they conducted and file a report with the Department."The cotton farmers are in dire straits as our field report has revealed. Cotton farmers have had a failed season," the official said.
Rupee collapses against dollar, opens weak by 15 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 15 paise at Rs 75.05 against the dollar. At the same time, the rupee on Wednesday closed at Rs 74.90 with a gain of 25 paise against the dollar.
Strong opening in Sensex, opened up 124 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 123.84 points to open at the level of 57808.63 points.
*All India Weather Forecast for December 02, 2021**Weather systems made across the country*There is a low pressure area over the central part of Andaman Sea and the associated cyclonic circulation is extending up to mid-troposphere level. It is very likely to move west-northwestwards and center into a Depression by tomorrow, December 2. It may further intensify into a cyclone over central Bay of Bengal during the next 24 hours. It is expected to reach North Andhra Pradesh and South Odisha coast by the morning of December 4.A Cyclonic Circulation is persisting over Southeast Arabian Sea. Under its influence, a low pressure area is very likely to form over East Central Arabian Sea during next 24 hours. A trough is extending from the above cyclonic circulation up to North Maharashtra Coast.*Weather movement across the country during the last 24 hours*During the last 24 hours, Andaman and Nicobar Islands and Interior Tamil Nadu received light to moderate rain at one or two places.Light to moderate rains occurred over remaining parts of Tamil Nadu, South Coastal Andhra Pradesh, Kerala, Lakshadweep and Coastal Karnataka.Light rain was recorded over Interior Karnataka, parts of Konkan and Goa, Madhya Maharashtra and Gujarat region.*Weather activity likely during next 24 hours*During the next 24 hours, heavy to very heavy rainfall is very likely over Andaman and Nicobar Islands.Light to moderate rain at a few places with heavy rain at a few places is possible over Gujarat region, North Konkan and North Madhya Maharashtra.Light to moderate rain is likely over Kerala, Tamil Nadu, parts of Karnataka, remaining parts of Madhya Maharashtra, Konkan and Goa and parts of Saurashtra and Kutch and western Madhya Pradesh.Light rain is possible over Rayalaseema, Southeast Rajasthan and one or two parts of Himachal Pradesh and Uttarakhand.Strong gusty winds and high seas can occur over Gujarat and Maharashtra coasts. Wind speed can be 40 to 50 kilometers per hour.*-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111677774
Cotton prices to soften as arrivals set to increase, says CAICotton prices in India are expected to soften from their peak levels of around ₹8,000-8,800 a quintal (raw cotton) as the arrivals gain momentum, stated the chief of the top cotton body Cotton Association of India (CAI).Acknowledging that the cotton arrivals in India have been delayed partly due to the unseasonal rains and other factors, Atul Ganatra, President, CAI, stated that “cotton prices in India will fall once the arrivals pick up.”Addressing the 99th Annual General Meeting of the trade body on November 30, Ganatra expressed no need for restrictive measures to tame the spiralling prices, which have crossed ₹8,000 per quintal in several markets. “It does not require implementation of any restrictive measures to tame the cotton prices against the long- term interest of the entire cotton value chain including farmers,” Ganatra said adding that better realisations for cotton growers will encourage them to bring larger area into cotton next year.Regarding Indian cotton’s competitiveness in the international market, Ganatra stated that it is traditionally traded at a discount in the international markets compared with other competing countries. “Imposition of duty and other retrograde measures, when implemented, send a wrong signal and raise questions about the credibility of the whole country as a regular cotton supplier to the international market, thus playing a very vital role in attracting discounts,” he said.“Although farmers have a protection in Minimum Support Price, yet they deserve an opportunity to earn international prices like their counterparts in USA, Australia, Brazil and other developed countries. Therefore, at CAI we, believe in a free trade policy without any fetters,” Ganatra said.India enjoys a competitive advantage globally with its cheaper cotton prices. “Although Indian cotton prices have risen by about 58% during the last one year due to the strong fundamentals, yet they are still the cheapest in the world,” Ganatra said, adding that the comparable price rise in the international market as reflected in the Cotlook A index is much higher at 63%.Processed ginned cotton in India was quoted at ₹64,500 per candy (356 kg) on November 30, up from ₹57,000 quoted at the beginning of the season on October 1, 2021.
China state cotton reserves sales suspended from Dec 1, 2021The China National Cotton Reserve Company announces that the state cotton reserves sales will be suspended from December 1, on concern about current cotton market situation. If cotton market has big changes later, the state cotton reserves sales may restart.
Rupee opens 20 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 20 paise at Rs 74.96 against the dollar. At the same time, on Tuesday, the rupee closed at a level of Rs 75.16 with a weakness of 6 paise against the dollar.
Sensex opens sharply, rises 582 pointsToday the stock market opened with great momentum. Today the BSE Sensex opened with a gain of 582.29 points at the level of 57647.16 points.
*All India Weather Forecast for December 01, 2021**Weather systems made across the country*The Cyclonic Circulation lies over Southeast Arabia and adjoining Lakshadweep region extending up to 5.8 km above sea level.A low pressure area is expected to form over East-central Arabian Sea off Maharashtra coast around December 1.Another low pressure area is very likely to form over South Andaman Sea by the evening of 30 November. It is expected to move west-northwestwards and intensify into a depression over southeast and adjoining east-central Bay of Bengal during the next 48 hours.A Western Disturbance is likely to affect the Western Himalayas between December 1 and 2.Another fresh Western Disturbance is likely to affect Northwest India from the night of December 4.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain with isolated heavy falls occurred over Coastal Andhra Pradesh, parts of Tamil Nadu and Rayalaseema.Light to moderate rain occurred over remaining parts of Tamil Nadu, Rayalaseema, Kerala and Lakshadweep.Light rain occurred at isolated places over Karnataka and Marathwada and Andaman and Nicobar Islands.*Weather activity likely during next 24 hours*During the next 24 hours, light to moderate rain with isolated heavy falls at isolated places is likely over Coastal Andhra Pradesh, parts of Tamil Nadu, Kerala, South Gujarat and Andaman and Nicobar Islands and parts of Konkan and Goa.Light to moderate rain may occur over rest of Tamil Nadu and Madhya Maharashtra.Light rain is possible at isolated places over Rayalaseema, Karnataka, Central Gujarat, West Madhya Pradesh and Southeast Rajasthan.*-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111977775
Rains, HTBT, pink bollworm down cotton yields by 20-25%"Late rains due to La Nina and pink bollworm incidence are the major reasons for poor yields and production in cotton this year Untimely rains, poor quality hybrid seeds used in HTBT (herbicide tolerant biotechnology) cotton seeds and incidence of pink bollworm in some areas have resulted in a severe drop in yields in the just concluded kharif season.Despite a huge demand for the fibre crop in the domestic and international markets, thousands of farmers are not able to cash in on a high price situation in several mandis.Industry experts peg the drop in yields and production by up to 20-25 per cent.“The heavy rain caused by Cyclone Gulab in Telangana, Andhra Pradesh, Maharashtra, Gujarat, Madhya Pradesh and Chhattisgarh have damaged the standing crop of cotton at many places. Excess rainfall in Maharashtra, Gujarat and Telangana could affect yield of cotton, which is in the flowering stage,” a Market Intelligence report by the Prof. Jayashankar Telangana State Agricultural University (PJTSAU) has said.M Prabhakara Rao, President of the National Seed Association of India, has said that late rains due to La Nina and pink bollworm incidence are the major reasons for poor yields and production in cotton this year.“Use of poor quality seeds supplied in the name of 4G (fourth generation Bt seeds) in Gujarat, Madhya Pradesh and Maharashtra is also an important reason for the drop in yields.
Indian Railways permits 12 ft high container for cargo movementsHaulage charges would be at part with 2018 notification, says a circular The Ministry of Railways has decided to permit the introduction of 12 feet high container of 20 feet length for cargo transportation on its network.In a circular issued on November 15, the Ministry said that the haulage charges for these containers would be at par with the charges notified in 2018 for different weight slabs on a per twenty-foot equivalent unit (TEU) basis.A TEU is the standard size and a common measure of capacity in the container business. When commodities notified by the Indian Railways are transported in 12 feet high containers, they will be charged at Container Class Rate (CCR) subject to the existing terms and conditions, the Ministry of Railways said in the circular.
*All India Weather Forecast for November 30, 2021**Weather systems made across the country*A Cyclonic Circulation is persisting over Comorin region and adjoining parts of Sri Lanka.A low pressure area is very likely to form over South Andaman Sea by tomorrow, November 30.A fresh Western Disturbance will reach Western Himalayas by 30th November.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain with isolated heavy falls occurred over Tamil Nadu, Kerala, South Coastal Andhra Pradesh and Rayalaseema.Light to moderate rain occurred over Interior Tamil Nadu, remaining parts of Kerala and Lakshadweep.*Light rain fell in Karnataka.**Weather activity likely during next 24 hours*During the next 24 hours, light to moderate rain with isolated heavy falls very likely over Andaman & Nicobar Islands, parts of Kerala, Tamil Nadu, Rayalaseema, South Coastal Andhra Pradesh and South Interior Karnataka.Light to moderate rain may occur over Coastal Karnataka, Konkan & Goa, Madhya Maharashtra, Interior Tamil Nadu and Lakshadweep.Light rain is possible over Telangana and South Gujarat.On December 01, rain activities will increase significantly over Konkan and Goa and Gujarat.*-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111977775
Rupee opens 3 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 3 paise at Rs 74.84 against the dollar. At the same time, on Friday, the rupee declined by 36 paise to close at Rs 74.87 against the dollar.Sensex collapses as soon as it opens, breaks 534 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by about 533.60 points and opened at the level of 56573.55 points.
*Unable to run units to capacity for want of enough raw cotton, ginners face losses in Punjab**Most ginning factories working between 25-50% of capacity while nearly 10 units in Bathinda and Mansa districts of Punjab are lying shut**All 82 cotton ginning units of Punjab are unable to keep their operations running to capacity due to a shortage of nearly one-fourth of the required natural fibre in the market.**shut in Bathinda and Mansa.**A leading cotton ginner from Malout in Muktsar Bhagwan Bansal said against the average minimum requirement of 150 bales or 750 quintals per day, meagre 200 quintal cotton is available for processing. “A cotton ginning unit operator has to pay about ₹10 lakh fixed electricity charges for the nine-month season from September 1 onwards. As the pest attack has severely hit crop production, we are unable to run factories. We have to pay fixed charges even when electricity is not used,” he said.**For the current season, ginners were expecting 60 lakh quintal raw cotton after Punjab saw an increase of 25% area under cotton. As per Punjab Mandi Board data, different districts of south Malwa had recorded sales of 8.60 lakh quintals till November 27.**Board authorities opine the production this year may be around 25 lakh quintals while the industry say cotton arrival may touch the 30-35 lakh quintal mark.**Punjab Cotton Mills and Ginning Association president Suresh Bansal said owing to the negligent attitude of the state government, 76% of factories closed down since 2005. He blames the absence of a dedicated policy for agriculture and the industrial sector in Punjab.**“Punjab had 335 ginning factories 16 years ago that came down to 82 in 2021. In 2005, factories were ginning 18 lakh bales or 90 lakh quintals in a season and in 2020-21 kharif season, Punjab produced 49 lakh quintals,” he said.**“After irrigation system strengthened in over last decade, farmers of the semi-arid region of Malwa switched from the traditional cotton to less labour-intensive crop of non-basmati rice. Kotkapura town used to be a major purchase centre where 20-lakh quintal cotton was a regular feature 10-12 years ago. In 2020-21, the entire Faridkot district registered the arrival of mere 50,000 quintals. It shows the government has failed to set its priorities right,” said Bansal.* *SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771*Smartinfoindia.com*https://wa.me/919111977775*
*All India Weather Forecast for November 29, 2021**Countrywide weather systems*A Cyclonic Circulation lies over the Comorin region and adjoining Sri Lanka coast.A low pressure area is very likely to form over South Andaman Sea by tomorrow, November 29. It will turn into a deep low pressure and then move in a west-northwest direction during the next 48 hours.A Cyclonic Circulation is persisting over South Bangladesh.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain with isolated heavy falls occurred over South Coast of Andhra Pradesh and Coastal Tamil Nadu.Light to moderate rain occurred over Lakshadweep, Andaman and Nicobar Islands, Rayalaseema, Interior Tamil Nadu and Kerala.Light rain occurred at one or two places over South Interior Karnataka and remaining parts of Kerala and Coastal Odisha.*Weather activity likely during next 24 hours*During the next 24 hours, light to moderate rain with heavy rain is likely over some parts of Coastal Andhra Pradesh, Coastal Tamil Nadu and Lakshadweep.Light to moderate rain is very likely at isolated places over Kerala, Interior Tamil Nadu, South Interior Karnataka and Coastal Karnataka and Andaman and Nicobar Islands.Light rain is possible at isolated parts of South Madhya Maharashtra, Konkan & Goa and South Telangana.Air pollution in Delhi and its adjoining areas will continue to be in a dangerous condition.*-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111977775
*Concern over new Covid variant hits cotton prices in Ahmedabad**After having remained firm for quite some time, cotton prices have eased on concerns of new variant of coronavirus, Omicron.**The prices of cotton in local markets dropped by Rs 1,000-1,200 per candy (356kg) over the last two days as the new variant, currently circulating in South Africa, spooked the global cotton market, said traders. The prices of benchmark cotton variety, Shankar-6, have come down to Rs 65,300-65,800 per candy from their high levels of Rs 66,500-66,800 over past two days. “New variant of coronavirus has spooked the market, which has pulled down cotton prices in local markets,” said Arun Dalal, a city-based cotton broker.**“Following price dip in international market, domestic futures prices also dipped. Consequently, spot prices too eased,” said a cotton trader from Rajkot.**According to traders, arrivals of new crop to local mandis is currently slow and domestic mills are making limited purchases given the high price of the natural fibre. About 35,000 to 40,000 bales (one bale weighs 170kg) are arriving daily in local mandis . This should have been higher at 55,000 to 60,000 bales, added traders. “Presently, arrivals are slow as farmers are busy with marriage season and there is also a shortage of labourers to pluck cotton.The arrivals are expected to pickup after December 10,” said a city cotton trader.**-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111977775
New York Declares State of Emergency Amid Variant ThreatNew York Governor Kathy Hochul declared a state of emergency on Friday due to a rise in Covid-19 cases in the state and the threat of the omicron variant.She said the variant hasn’t yet been detected in the state but that she decided to sign an executive order to allow the health department to limit non-essential, non-urgent procedures at hospitals and acquire critical supplies more quickly. The order takes effect Dec. 3 and will be re-assessed based on the latest data on Jan. 15.
There may be pressure on the market for a few more days, there is a good chance of buying in the fall:News of rising cases of corona in European countries and lockdown on restaurants in Austria has had a bad effect on the market sentiment. There is a cycle of pressure in the market. And it lasts for some time.Even after the recent decline, the Indian market has been the best performer this year as compared to other countries. Going forward we will see more foreign money coming into the Indian markets as its long term growth story still remains strong and currently we remain strong in the long term bull market.But any correction under this time pressure gives an opportunity to choose quality stocks available in the market at good valuations. Due to all these reasons, there is temporary pressure on the market due to the selling of FIIs in the Indian markets. The fundamentals of the Indian economy are strong.Company's performance will also be good in the coming quarter. However, valuations of some stocks look very expensive. Due to this, profit has also come in them. Moreover, at present, domestic institutional investors are also not buying enough to make up for the selling by foreign institutional investors. Due to which there is pressure in the market. But this is a temporary phase. The long term outlook for the Indian markets remains strong.The year 2021 can be called the year of IPO. This has been the best year for IPO. Out of 51 IPOs listed since January, 38 are those that are trading above their offer prices.