The rupee fell 7 paise versus the dollar to settle at Rs 84.49 this eveningOn the fourth trading day of the week, the Sensex closed with a huge decline of 422 points at 77,155.79 points, while the Nifty slipped 168 points to close at 23,349.90 points.Midcap stocks also witnessed a volatile environment throughout the day. Nifty Midcap 50 closed at 15,167.55 points with a gain of 105 points till the market closed.Read More :- Lower Cotton Projections Raise Concerns in Textile Sector
Concerns in the Textile Sector Are Raised by Lower Cotton ProjectionsThe textile sector is voicing apprehensions over a dip in cotton production this year, driven by reduced sowing areas. Cotton associations estimate India’s cotton output at 302 lakh bales (1 bale equals 170 kg). In Gujarat, a key cotton-growing state, cultivation has shrunk to 23.71 lakh hectares, down from 26.82 lakh hectares last year. Industry experts stress the urgent need to introduce new seed varieties to boost productivity, given the state’s robust ginning and spinning infrastructure. Agricultural department data shows Gujarat’s cotton cultivation area fluctuating in recent years, from 25.49 lakh hectares in 2022 to 26.82 lakh hectares in 2023, before falling to 23.71 lakh hectares in 2024. A senior agriculture department official explained, “Crop damage from pests has lowered productivity and delayed arrivals. Many farmers have switched to groundnut this year for better returns.” Reflecting this shift, groundnut cultivation in Gujarat surged to 19.08 lakh hectares, up from 16.35 lakh hectares the previous year.Read More :> CCI Begins Cotton Procurement at Minimum Support Price in Five States
Due to fluctuating crude prices, the rupee flattens at 84.42 against the US dollar.The rupee turned flat at 84.42 against the US dollar in early trade on Thursday amid volatile crude oil prices and lackluster sentiment in the domestic equity markets.Read More :> Telangana Farmers Protest Over Cotton Purchases Falling Below MSP
This evening, the rupee fell 3 paise versus the dollar to settle at Rs 84.42The 30-share BSE benchmark Sensex closed up 239 points, or 0.31%, at 77,578. The broader NSE Nifty closed up 65 points, or 0.28%, at 23,518. During the session, the Sensex touched an intraday high of 78,451, while the Nifty 50 touched 23,780.Read More :- Telangana Farmers Protest Over Cotton Purchases Falling Below MSP
Early trading saw the rupee gain 2 paise to 84.40 against the US dollar.The rupee rose 2 paise to 84.40 against the US dollar in early trade on Tuesday amid a recovery in domestic equity markets and a weaker American currency against major Asian rivals. Read More :> Telangana Farmers Protest Over Cotton Purchases Falling Below MSP
Sensex down 240 pts, Nifty ends below 23500 Among sectoral indices, the Nifty IT index led the losses, falling more than 2 percent. Energy and Healthcare were other major losers, falling nearly 1 percent. Nifty Metals index was the top gainer, but pared gains to 2 percent. Nifty Auto, Nifty FMCG, and Nifty Bank posted modest gains of 0.3-0.7 percent each.This evening, the rupee closed at 84.39 against the dollar without any change.Readmore:- Telangana Farmers Protest Over Cotton Purchases Falling Below MSP
Early trading saw the rupee rise 8 paise to 84.38 against the US dollarBSE's Sensex fell 156.72 points to 77,423.59 in early trade. NSE's Nifty fell 64.25 points to 23,468.45.Read More :- Telangana Farmers Protest Over Cotton Purchases Falling Below MSP
Telangana Farmers Protest as Cotton Prices Fall Below MSPCotton farmers in Telangana have staged protests over declining prices, alleging that traders in the Khammam agricultural market yard are purchasing cotton below the government-declared Minimum Support Price (MSP).Farmers claim that even Cotton Corporation of India (CCI) is not offering the expected support, with prices falling significantly short of the MSP of ₹7,521 per quintal. According to growers, the highest price received was around ₹6,850 per quintal, and that too by only a few farmers, while many were forced to sell at even lower rates of ₹6,400 per quintal.Expressing disappointment, farmers said they had anticipated prices between ₹8,000 and ₹11,000 per quintal. The current situation, they argue, is leading to heavy financial losses.Adding to their concerns, farmers have accused traders of manipulating prices by manually assessing the moisture content of cotton instead of using standard machines. They allege that a trader syndicate is influencing rates unfairly.Despite intervention by District Collector Muzamil Khan, who visited the market yard and warned traders against violating MSP norms, farmers claim that the ground situation remains unchanged.Meanwhile, K. Praveen Kumar Reddy, Secretary of the Khammam cotton market yard, stated that notices have been issued to traders and further action will be taken after reviewing their responses.Currently, around 45,000 bags of cotton are arriving daily at the Khammam market yard from across the erstwhile district, intensifying pressure on procurement and pricing systems.Read More :- CCI Begins Cotton Procurement at Minimum Support Price in Five States
This evening, the rupee ended the day 2 paise down versus the US dollar at 84.40The BSE benchmark Sensex closed 110.64 points or 0.14 per cent lower at 77580.31. The Nifty 50 index closed 26.35 points or 0.11 per cent lower at 23,532.70.Read More :- CCI Begins Cotton Procurement at Minimum Support Price in Five States
CCI Starts Purchasing Cotton in Five States at the Minimum Support PriceThe Cotton Corporation of India (CCI) has initiated the purchase of cotton at the Minimum Support Price (MSP) across five states due to lower market prices.Lalit Kumar Gupta, Chairman and Managing Director of CCI, informed procurement of 2.25 lakh bales of cotton so far. He added that a clearer picture of the price trend and regions where prices might fall below the MSP is expected in two weeks.Nishant Asher, Secretary of the Indian Cotton Federation, noted that daily cotton arrivals have increased to 1.3-1.4 lakh bales. “Currently, Indian cotton is about 5% more expensive than international prices. The demand and export of yarn remain sluggish, which is keeping cotton prices under pressure,” he explained.The Federation reported that the price of the Shankar-6 variety stood at ₹54,500 per quintal of ginned cotton on Wednesday.Read More :> Cotton Procurement Halted in Erstwhile Karimnagar Over New CCI Guidelines
At 84.40 against the US dollar, the rupee reaches a record low.Mumbai, Nov 14 (PTI) The rupee slipped 1 paisa to an all-time low of 84.40 against the US dollar in early trade on Thursday, weighed down by unabated foreign fund outflows and strong dollar demand from investors.Read More :> Cotton Prices Soar to ₹7,500 as Cotton Corporation of India Begins Procurement at Bhikangaon Mandi
This evening, the rupee gained 1 paisa against the US dollar, closing at 84.38At the close of trading, the BSE Sensex fell 984.23 points or 1.25 per cent to close at 77,690.95. The NSE's 50-share index, the Nifty, fell 324.40 points or 1.36 per cent to close at 23,559.05.Read More :- Cotton Prices Soar to ₹7,500 as Cotton Corporation of India Begins Procurement at Bhikangaon Mandi
The rupee drops to a new low of 84.41 versus the US dollar.The BSE Sensex fell 94.40 points to 78,580.78, while the NSE Nifty declined by 55.25 points to 23,828.20Indian markets opened weak as global cues and a cyclical earnings slowdown dampen investor sentiment. The BSE Sensex fell 94.40 points to 78,580.78, while the NSE Nifty declined by 55.25 points to 23,828.20. Analysts highlight mounting pressure in mid-cap and small-cap stocks, with Jefferies India lowering earnings forecasts for 63% of the large-cap companies it covers—the highest downgrade ratio since the pandemic in 2020. Read More :> Cotton Procurement Halted in Erstwhile Karimnagar Over New CCI Guidelines
The rupee finished at 84.39 against the dollar this evening, unchangedThe BSE Sensex closed at 78,675.18 points, down 820.97 points or 1.03%. The Nifty 50 index also fell 257.85 points or 1.07 points to 23,883.45 points. Due to this decline, the market cap of companies listed on the BSE fell by Rs 3.3 lakh crore to Rs 439.27 lakh crore.Read More :- Cotton Procurement Halted in Erstwhile Karimnagar Over New CCI Guidelines
The rupee finished at Rs 84.39 versus the dollar this evening, down 1 paisaThe stock market closed flat on Monday after a volatile trading session. On the first trading day of the week, the Sensex closed with a marginal gain of 9.83 points at 79,496.15, while the Nifty fell 6.90 points to close at 24,141.30.Read More :- Cotton Procurement Halted in Erstwhile Karimnagar Over New CCI Guidelines
Due to new CCI guidelines, cotton procurement in the former Karimnagar was halted.The cotton procurement process has come to a complete halt in the erstwhile Karimnagar district as all 11 ginning mills in the region have suspended operations in protest against the recently introduced guidelines by the Cotton Corporation of India (CCI).The new CCI guidelines mandate a sequential allocation of mills using a serial numbering system (L-1, L-2, L-3, etc.), with procurement starting at the first mill and progressing according to the assigned order. Mill owners argue that this policy could disadvantage those assigned lower numbers, leaving them without sufficient cotton for purchase once higher-priority mills have completed their intake.Since Monday morning, the suspension of procurement has affected all 11 ginning mills in the district. However, officials remain optimistic that the issue will be resolved soon, as discussions between CCI representatives and mill owners are currently underway.
| title | Created At | Action |
|---|---|---|
| This evening, the rupee closed at Rs 84.49 against the dollar with a weakness of 7 paise | 21-11-2024 23:26:43 | view |
| Lower Cotton Projections Raise Concerns in Textile Sector | 21-11-2024 17:55:08 | view |
| Rupee turns flat at 84.42 against US dollar amid volatile crude prices | 21-11-2024 17:20:27 | view |
| The rupee closed at Rs 84.42 this evening with a weakness of 3 paise against the dollar | 19-11-2024 23:42:00 | view |
| Rupee rises 2 paise to 84.40 against US dollar in early trade | 19-11-2024 17:20:31 | view |
| Sensex declines, Nifty closes under | 19-11-2024 00:05:30 | view |
| Rupee rose 8 paise to 84.38 against the US dollar in early trade | 18-11-2024 17:35:43 | view |
| "Telangana Farmers Protest Over Sub-MSP Cotton Prices" | 16-11-2024 18:28:31 | view |
| The rupee closed 2 paise lower at 84.40 against the US dollar this evening | 14-11-2024 23:09:13 | view |
| CCI Begins Cotton Procurement at Minimum Support Price in Five States | 14-11-2024 19:06:05 | view |
| Rupee Hits Record Low of 84.40 Against US Dollar | 14-11-2024 17:22:30 | view |
| The rupee strengthened by 1 paisa to close at 84.38 against the US dollar this evening | 13-11-2024 23:24:57 | view |
| Rupee falls to fresh low of 84.41 against US dollar | 13-11-2024 17:20:22 | view |
| This evening, the rupee closed unchanged at 84.39 against the dollar | 12-11-2024 23:14:32 | view |
| This evening, the rupee closed 1 paisa lower at Rs 84.39 against the dollar | 11-11-2024 23:18:58 | view |
| Cotton Procurement Halted in Erstwhile Karimnagar Over New CCI Guidelines | 11-11-2024 20:59:58 | view |
