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This evening, the rupee strengthened by 1 paise and closed at Rs 83.18 against the dollar.Today the stock market closed with a huge fall. Today Sensex fell by 522.82 points and closed at the level of 64049.06 points. Nifty fell by 159.60 points and closed at the level of 19122.20 points.

Farmers lock grain market of AboharBathinda: Angry over no purchase of raw cotton for the last three days, the farmers locked the grain market at Abohar town on Dussehra and even disrupted traffic on Fazilka road.The farmers accused the arhtiyas (commission agents) of deliberately not coming forward to make purchases.The farmers, irked by no purchases, locked all the gates leading to the grain market and blocked the road to Fazilka. As the commuters faced hardships, the district authorities reached the spot and prevailed upon the farmers to end the protest. The farmers were assured of purchases without any trouble.Fazilka DC Senu Duggal said the farmers had some issues with the commission agents, but these were resolved and purchases were being made. Total 3.44 lakh quintals of cotton had arrived so far, out of which 3.38 lakh quintals had been purchased.

Pakistan cotton Spot rate gains further Rs 300 per maundThe Spot Rate Committee of the Karachi Cotton Association (KCA) on Tuesday increased the spot rate by Rs 300 per maund and closed it at Rs 16,600 per maund. The local cotton market remained bullish and the trading volume remained satisfactory.Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is Rs 15,000 to Rs 17,500 per maund. The rate of Phutti in Sindh is in between Rs 6,500 to Rs 8,200 per 40 kg. The rate of cotton in Punjab Rs 15,500 to Rs 18,000 per maund and the rate of Phutti in Punjab is in between Rs 7,500 to Rs 8,700 per 40 kg. The rate of cotton in Balochistan is Rs 15,500 to Rs 16,000 per maund while the rate of Phutti is in between Rs 7,500 to Rs 9,000 per 40 kg.The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 300 per maund and closed it at Rs 16,600 per maund. Polyester Fiber was available at Rs 350 per kg.source: Business Recorder, 2023

 This evening, the rupee closed at Rs 83.19 against the dollar with a weakness of 7 paise.Today the stock market closed with a decline. Today the Sensex fell by about 825.74 points and closed at the level of 64571.88 points. Whereas Nifty fell by 260.90 points and closed at the level of 19281.80 points.

This evening, the rupee strengthened by 12 paise and closed at Rs 83.12 against the dollar.Today the stock market closed with a decline. Today Sensex closed at 65397.62 points with a fall of 231.62 points. Whereas Nifty closed at the level of 19542.70 points with a fall of 82.00 points.

This evening, the rupee strengthened by 2 paise and closed at Rs 83.24 against the dollar.Today the stock market closed with a decline. Today the Sensex fell by about 247.78 points and closed at the level of 65629.24 points. Whereas Nifty closed at the level of 19624.70 points with a fall of 46.40 points.

*Pakistan: Stable trend visible in cotton market*LAHORE: The local cotton market remained stable on Tuesday with low trading volume.Cotton analyst Naseem Usman said that the cotton rate in Sindh is Rs 14,000 to Rs 16,500 per maund. The rate of footi in Sindh is between Rs 6,000 to Rs 7,800 per 40 kg. The rate of cotton in Punjab is Rs 14,000 to 16,400 per maund and the rate of cotton in Punjab is Rs 6,500 to 8,500 per 40 kg. Cotton rates in Balochistan range from Rs 15,000 to Rs 15,500 per maund while cotton rates range between Rs 7,000 to Rs 8,200 per 40 kg.Naseem also said that according to the data released by Pakistan Cotton Ginners Association, about 60 lakh bales reached cotton factories till October 15.Approximately, 200 bales of Mir Pur Khas were sold at the rate of Rs 13,700 per maund, 200 bales of Fort Abbas were sold at the rate of Rs 15,300 per maund, 200 bales of Chichjawatni were sold at the rate of Rs 14,900 per maund, Rahim Yar Khan 400 bales were sold. 200 bales of Chishtian were sold at Rs 16,200 per maund, 200 bales of Chishtian were sold at Rs 15,300 per maund, 200 bales of Tundsa Sharif were sold at Rs 15,200 per maund, 200 bales of Murid Wala were sold at Rs 14,800 per maund, 200 bales of Laiya were sold at Rs 14,800 per maund. 200 Lodharan were sold at Rs 15,700 per maund and 200 Lodharan were sold at Rs 15,800 per maund.Spot rate remained unchanged at Rs 16,000 per maund. Polyester fiber was available at Rs 350 per kg.

Today the stock market closed with a huge fall.This evening, the rupee closed at Rs 83.26 against the dollar without any movement.  Today Sensex fell by about 551.07 points and closed at the level of 65877.02 points. Whereas Nifty closed at the level of 19671.10 points with a fall of 140.40 points.

Pakistan Prices firm amid improved activity on cotton marketThe local cotton market on Tuesday remained steady and the trading volume remained satisfactory.Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is Rs 13,500 to Rs 16,000 per maund. The rate of Phutti in Sindh is in between Rs 5,500 to Rs 7,000 per 40 kg. The rate of cotton in Punjab Rs 14,500 to Rs 16,200 per maund and the rate of Phutti in Punjab is in between Rs 6,000 to Rs 7,200 per 40 kg. The rate of cotton in Balochistan is Rs 13,500 to Rs 14,500 per maund while the rate of Phutti is in between Rs 6,500 to Rs 7,500 per 40 kg.The Spot Rate remained unchanged at Rs 16,000 per maund. Polyester Fiber was available at Rs 360 per kg.

Poor rains to affect production of pulses, oilseeds and cottonThe biggest dip in area under cultivation was seen in pulses, at 0.54mn hectares, followed by oilseeds at 0.33mn hectares and cotton by 0.41mn hectares.  Deficient monsoons in the North East and South of India are likely to affect the production of crops such as pulses, oilseeds, cotton and coarse cereals like ragi from these regions, said an analyst report“The impact of this will probably affect the output in key crops like sugarcane, rice and some coarse cereals,” said a report by IIFL Securities.  “In the South Peninsula, Rabi sowing is at risk, as the reservoir levels at 50% are down sharply 46% YoY. Reservoir levels in Maharashtra too, are down 15% YoY,” they added.  Rice sowing was down 14.4% in Karnataka and 13.1% in Tamil Nadu. In Andhra Pradesh, it was down 6.7%, while it was stable in Telangana.  This is despite the fact that a sharp increase in area under rice cultivation in Bihar and Jharkhand increased the area under rice by 0.77 mn hectares. In Bihar, area under rice jumped 15.9%, while it increased by 36% in Jharkhand.On a pan-India level, the biggest dip in acreage was seen in pulses, at 0.54mn hectares, followed by oilseeds at 0.33mn hectares and cotton by 0.41mn hectares.  The southwest monsoon this year saw a dip of 6% on a pan-India level, with 26 out of the 36 subdivisions in India receiving normal or better rains.  “Reservoir levels in South and East India are at a large deficit to average levels - which could impact sowing patterns during Rabi,” they added in a note to clients.  Sowing during the monsoon season was also affected by price fluctuations. It skewed towards remunerative crops like coarse cereals, sugar cane – whose prices rose by 4%-22% during the kharif season. Sowing moved away from cotton and oilseeds, with prices correcting by 16%-21%.SOURCE : The New Indian Express

This evening, the rupee strengthened by 2 paise and closed at Rs 83.26 against the dollar.Today the stock market closed with a rise. Today Sensex closed at 66428.09 points with a rise of 261.16 points. Whereas Nifty closed at the level of 19817.70 points with a gain of 85.90 points.