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Rupee rallied against dollar, opened weak by 7 paiseThe rupee opened weak against the dollar today. Today, the rupee opened at a level of Rs 82.32 against the dollar with a weakness of 7 paise. On the other hand, on Friday, the rupee closed at a level of Rs 82.25 against the dollar with a weakness of 32 paise.Today the Sensex opened with a gain of 73 points.Today the stock market opened with a boom. Today, the BSE Sensex opened at a level of 66600.63 points with a gain of about 72.96 points. On the other hand, NSE's Nifty opened at 19770.80 points with a gain of 17.00 points. A total of 2,166 companies opened for trading on BSE today.

Rupee closes flatThe Indian rupee ended little changed on Monday, which will help investors assess the outlook for US monetary policy.Today, the rupee closed at 82.25 against the dollar, while it closed at 82.2475 on Friday.Stock market rises again, Sensex closes up by 367 pointsToday the stock market closed with a boom. Today, where the Sensex closed at a level of 66527.67 points with a gain of about 367.47 points. On the other hand, the Nifty closed at a level of 19753.80 points with a gain of 107.80 points.

Pakistan: Weekly review of cotton, rate stable despite rainKARACHI: Recent rains have affected the cotton business; However, the rate of the commodity remained stable. There were ups and downs in the international cotton market on Wednesday.Renowned agricultural scientist Dr. Tasawur Hussain Malik has said that the solution to Pakistan's economic woes lies in good quality cotton.In the local cotton market, incessant rains in almost all the cotton growing areas of Sindh and Punjab and Baluchistan during the past week kept most of the cotton factories closed and even ginning could not be done properly, resulting in little business. Markets were also closed due to Muharram holidays.According to the reports coming from the cotton producing areas, there has been minor damage to the crop due to rain, but the quality has been affected. There is a possibility of damage to the crop if it rains further. may cause damage; However, the predictions will be made after the rain stops.However, due to the relatively high yield, this will not make much difference. There is a possibility that the crop may be affected by the outbreak of insects after the rains.In Sindh, cotton rates ranged between Rs 17,800 and Rs 17,900 per head, while footy rates ranged between Rs 7,200 and Rs 7,700 per 40 kg.Cotton rates in Punjab ranged between Rs 18,000 and Rs 18,300 per head, while futi rates ranged between Rs 7,000 and Rs 8,500 per 40 kg.Cotton rates in Balochistan ranged between Rs 17,800 and Rs 17,900 per head, while footy rates ranged between Rs 7,200 and Rs 7,800 per 40 kg.The spot rate committee of the Karachi Cotton Association capped the rate at Rs 17,935 per maund.Naseem Usman, President of Karachi Cotton Brokers Forum, has said that the international cotton market is in a bullish trend. The futures trading rate of New York cotton reached a six-month high and closed at 88 US cents. The rise in cotton prices in New York was linked to a fall in the value of the dollar and severe heat and drought in cotton-growing states and regions.Later, the cotton settled at 84.26 US cents due to relatively short supply as per export reports. Cotton prices in India are also showing an uptrend. According to the USDA's weekly export and sales report, 18,700 bales were sold for 2022-23. China topped by purchasing 2700 bales. Vietnam was second with 2,600 bales.About 80,600 bales were sold for the year 2023-24. China topped the list by purchasing 63,300 bales. Mexico was second with 11,500 bales. Bangladesh bought 3,000 bales and stood third. Pakistan bought 2,600 bales and stood at the fourth position.The director of the Pakistan Cotton Standards Institute (PCSI) expressed these views while addressing a gathering of cotton pickers during a training organized by the PCSI here.He said, PCSI is the only institute in the country which undertakes quality-wise grading of cotton and provides technical assistance on cotton classification, grading, selection and fiber testing to farmers and private sector to improve quality of seed cotton as well as lint. does.More than 30 cotton pickers from Punjab and Sindh's agricultural extension departments, Pakistan Cotton Ginners Association (PCGA) and Pakistan Cotton Brokers Association (PCBA) attended the training on 26 July which will continue till 8 August.However, recent monsoon rains in the country's cotton belt have damaged the crop. Ihsanul Haque, President of the Cotton Ginners Forum, has said that there is a fear that this time the country will not be able to achieve the target of cotton production, which was set at more than 10 million bales. He said that this situation will also harm the country's exports.

Rupee opens 3 paise stronger against dollarThe rupee opened strongly against the dollar today. Today, the rupee opened at a level of Rs 82.22 against the dollar with a strength of 3 paise. On the other hand, on Friday, the rupee closed at a level of Rs 82.25 against the dollar with a weakness of 32 paise.

Rupee weakens by 32 paise against dollarThis evening, the rupee closed at a level of 82.25 against the dollar with a weakness of 32 paise.Sensex dropped 106 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 66160.20 points with a fall of 106.62 points.On the other hand, Nifty closed at 19646.00 points with a fall of 13.90 points.

Pakistan: "Minor activity in cotton market ahead of holidays"LAHORE: The local cotton market remained stable on Thursday with low trading volumes due to rains in the cotton belt of Sindh and Punjab.Cotton analyst Naseem Usman told the Business Recorder that the new cotton crop rate in Sindh is between Rs 17,800 and Rs 17,900 per head. The rate of footi in Sindh is between Rs 7,200 to Rs 7,800 per 40 kg. The rate of cotton in Punjab is between Rs 18,200 to Rs 18,300 per head and the rate of foot is between Rs 7,000 to Rs 8,500 per 40 kg.Cotton rates in Balochistan range from Rs 17,800 to Rs 17,900 per head, while footy rates range from Rs 7,200 to Rs 7,800 per 40 kg.About 400 bales of Shahdad Pur, 200 bales of Nawab Shah were sold at Rs.17,800 per head, 600 bales of Gojra at Rs.17,900 per head and 200 bales of Raw Khoo at Rs.18,100 per head.The spot rate remained unchanged at Rs 17,935 per head. Polyester fiber was available at Rs 345 per kg.

Rupee falls 34 paise to open at 82.27 against the US dollarThe Indian rupee opened 34 paise lower against the US dollar Friday on broader strength in the greenback after better-than-expected US gross domestic product. The local currency opened at 82.27 a dollar as compared to the previous close of 81.93.Today the Sensex opened with a fall of 111 points.Today the stock market opened with a fall. Today, the BSE Sensex opened at a level of 66155.56 points with a fall of 111.26 points. On the other hand, the Nifty of NSE opened at a level of 19631.50 points with a fall of 28.40 points. A total of 2,077 companies opened for trading on BSE today.

Rupee strengthened by 7 paise against dollarThe rupee strengthened by 7 paise to close at Rs 81.93 against the dollar this evening. Sensex fell 440 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 66266.82 points with a fall of 440.38 points.On the other hand, the Nifty closed at a level of 19659.90 points with a decline of 118.40 points.

China: Production reduction expectations affect supply Domestic cotton prices hit an annual high.China Cotton Situation Monthly Report (June 2023)In the first half of the year, the domestic market demand gradually recovered, production and supply continued to increase, and the overall economic operation rebounded for the better. In June, affected by factors such as tight supply and expected reduction in new cotton production, domestic cotton prices rose rapidly in the first half of the month, reaching a new high in the middle of the month. On the 16th, China's cotton price index (CCIndex3128B) rose to 17,540 yuan/ton; after that Due to the off-season of the textile market, the inventory of finished products increased, the operating rate of enterprises decreased, and the downward transmission of cotton prices was not smooth, so there was a slight correction. The international cotton price generally fluctuated and went down, rebounded at the end of the month, and the price difference between domestic and foreign cotton continued to expand. The China Cotton Association predicts that the national cotton production in 2022 will be 6.622 million tons, a year-on-year increase of 14.7%; imports will be 1.6 million tons, a year-on-year decrease of 7.4%; cotton consumption and exports will be 7.6 million tons and 30,000 tons respectively; ending inventory It was 8.912 million tons, a year-on-year increase of 7.1%.1. The growth of cotton in Xinjiang is not as good as in previous yearsIn June, cotton began to bud and bloom across the country. Due to the unfavorable weather in the early stage, cotton grew slowly in Xinjiang, and the growth was generally weak, and the development process was significantly later than in previous years. The growth of cotton in the inland area was generally good. Although there was drought in some cotton areas, it had little impact on cotton growth. According to the survey by the China Cotton Association: as of June 30, the national cotton budding rate was 98.3%, which was 0.6 percentage points higher than the same period last year2. The domestic cotton price rose to a new annual highIn the first ten days of June, the domestic macroeconomic environment warmed up and the market expected that the supply of cotton would be tight. The futures and spot market prices continued to rise, and the demand for downstream textiles weakened in the middle and late months of the month. The support was limited, and the downward transmission of cotton prices was unfavorable. The domestic cotton spot price was under pressure. . Cotton companies were more active in sales during the month, but it was the off-season of textiles, downstream demand continued to weaken, and the willingness to replenish warehouses gradually weakened.3. The decline in commercial inventories has slowed downIn June, the textile industry was in the traditional off-season, the operating rate of enterprises dropped slightly, and only moderate purchases were made. Domestic cotton commercial stocks continued to decline month-on-month, and the rate of decline slowed down. As of June 30, the national cotton commercial inventory was 2.8969 million tons, a decrease of 595,900 tons or 17.1% from the previous month, and a decrease of 3.7 percentage points from the previous month; 825,300 tons lower than the same period last year. The transportation volume of cotton out of Xinjiang declined again. In that month, Xinjiang's professional cotton warehouse shipped 381,900 tons out of Xinjiang, a month-on-month decrease of 135,200 tons, or 26.1%, which was higher than 198,000 tons in the same period last year.4. textile demand weakens and finished product inventory increasesIn June , textile downstream orders gradually weakened, cotton yarn prices were weak, spinning profits continued to decline, and even suffered losses. Enterprises continued to limit production and stop production, and the operating rate decreased. The demand for lint was weak, and enterprises purchased cautiously. According to the survey, yarn output decreased by 1.7% month-on-month and was still 7.4% higher than the same period last year; cloth output decreased by 2.8% month-on-month and was 2.4% higher than the same period last year. As of June 30, the cotton industrial inventory of textile enterprises in the library was 822,200 tons, a decrease of 32,200 tons from the end of last month and an increase of 243,100 tons year-on-year.5. Cotton import volume decreasedAccording to data from the General Administration of Customs, my country imported 83,000 tons of cotton in June, a decrease of 23.9% month-on-month and 49% year-on-year. Among the countries of origin, the United States still ranks first, accounting for 60%. In the first half of 2023, my country imported a total of 580,000 tons of cotton, a year-on-year decrease of 49.6%; in the first 10 months of 2022/23, a total of 1.14 million tons of cotton was imported, a year-on-year decrease of 24.2%.6. Relevant departments will organize the sale of part of the central reserve cottonOn July 18, the relevant departments issued an announcement. According to the requirements of relevant state departments, in order to better meet the cotton demand of cotton spinning enterprises, they will organize the sale of some central reserve cotton in the near future. Time: From the end of July 2023, every national statutory working day will be listed for sale; the daily listed sales volume will be arranged according to the market situation; the bottom price of listed sales will be determined according to the market dynamics, and in principle, it will be linked to the spot price of cotton at home and abroad.7. Issuance of sliding tax quotas for cotton importsOn July 20, the National Development and Reform Commission issued an announcement. In order to ensure the needs of textile enterprises for cotton, it was decided after research that the 2023 cotton tariff quotas and preferential tariff rate import quotas (hereinafter referred to as "sliding tax quotas for cotton imports") will be issued in the near future. This time, 750,000 tons of sliding tax quotas for non-state-operated cotton imports will be issued, with no restrictions on trade methods.

Pakistan: Slow business in cotton marketLAHORE: The local cotton market remained stable on Wednesday with trading activity slowing down due to rains in the cotton belt of Sindh and Punjab.Cotton analyst Naseem Usman told the Business Recorder that the rate of new cotton crop in Sindh is between Rs 17,700 and Rs 17,800 per head. The rate of footi in Sindh is between Rs 7,300 to Rs 7,400 per 40 kg.Cotton rates in Punjab range from Rs 18,000 to Rs 20,000 per head and cotton between Rs 7,500 to Rs 8,500 per 40 kg. Cotton rates in Balochistan range from Rs 17,700 to Rs 17,800 per head, while footy rates range from Rs 73,200 to Rs 7,800 per 40 kg.200 bales of Chichavatni and 200 bales of Toba Tek Singh were sold at the rate of Rs.18,100 per head. The spot rate remained unchanged at Rs 17,935 per head. Polyester fiber was available at Rs 345 per kg.

Rupee opens 7 paise higher at 81.93 against the US dollarThe Indian rupee opened 7 paise higher against the US dollar on Thursday tracking gains in Asian peers amid a weak US currency after the US Federal Reserve raised interest rates, which analysts believe to be the last rate hike by the central bank. The local unit opened at 81.93 as compared to the previous close of 82.00.Today Sensex gained 173 points and Nifty gained 57 points.Today the stock market opened with a boom. Today, the BSE Sensex opened at a level of 66880.53 points with a gain of about 173.33 points. On the other hand, the NSE's Nifty opened at a level of 19835.40 points with a gain of 57.10 points. A total of 2,086 companies opened for trading on BSE today.