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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