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Today evening, the rupee depreciated by 9 paise to close at Rs 76.52 against the dollar.Sensex closed down 85 pointsToday the stock market closed with a fall. Today, where the Sensex fell by about 84.88 points, closed at the level of 56975.99 points. On the other hand, Nifty closed at the level of 17069.10 points down by 33.40 points.

The stock market started on the red mark, Sensex fell more than 480 pointsOn the first trading day of the month of May i.e. on Monday, May 2, the stock market opened with a big fall. The stock market started on the red mark on the first trading day of the week amid weak 

Know how this fortnight was for textile investors:A look at the stock report of major textile companies from 18 to 30 AprilThe stock market has seen ups and downs almost every day in the month of April. One day the Sensex is down and the next day there has been a tremendous increase in the Sensex data. Many times the market has changed a lot in a single day. Such a situation of confusion has also taken investors by surprise. If we look at the report of the last 15 days, then there has been a lot of volatility in the shares of the major companies of the textile segment. However, the market cap of most of the companies has remained negative. Let's know BSc

Three lakh bales of cotton soon to arrive India post the duty removal announcement.Immediately after the government declared the duty free import of cotton, some of large mills have ordered around 3 lakh bales. Each bale is 170 kg and will probably arrive India by mid-June from US. The mill owners have bought mainly the short staple cotton which is 27.5 mm length. As per the sources, the deals were closed at Rs. 89,000/- per candy (356 kg each FOB).  Commonly, Indian cotton industries consume medium staple cotton which measures 28.5 mm length. Short staple cotton can be used in similar ways when blended with medium staple cotton. Although, as of now it is uncertain that whether the import deals proves beneficial financially for mill owners or not because we are unaware of the Indian market in mid-June, but at the same time the import has surely brought availability of crop to the market.Traders also asserts that the decision is good and welcomed, however delayed. If it had come earlier say in February, industrialists must have imported approximately 40 lakh bales. But it came in mid-April which couldn’t fulfil the shortfall in domestic market. Now, the estimated arrival is merely 10-12 lakh bales by September current year.Nevertheless, mills are importing cotton just to regulate the chain and supply. Also, on the flip side thin demands from weaving and garment industry doesn’t allow spinners to import expensive cotton.

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Government also has hope from cotton, encouraging farmers to cultivate cottonGovernments of various states engaged in promoting cotton farming, cotton is being recognized as a profit making cropThe unimaginable rise in the price of cotton has attracted everyone. Be it farmers or traders or the government, all are looking at cotton as a profit making crop. Many farmers are leaving their traditional farming and turning to cotton farming. Governments are also promoting cotton as a profit making crop at their level. Recently, the Telangana government has prepared an incentive scheme for farmers to plant 70 to 75 lakh acres of cotton in the coming Kharif season, which will be about 35 lakh acres more than paddy. . Along with this, the Telangana government is trying its best to ensure that the farmers do not face any shortage of fertilizers or seeds for the cotton crop.Sowing is dependent on monsoonTelangana Chief Minister K Chandrashekhar Rao has given green signal to the crop plan prepared by the Department of Agriculture and Horticulture for the upcoming Kharif season. And directed the Agriculture Department to make the farmers aware about the cultivation of profitable crops especially cotton. Agriculture Department's M Raghunandanarao has confirmed that this time 70 to 75 acres of cotton will be promoted in Telangana, although the actual sowing will also depend on the monsoon. If the rains are early and good, the chances of a good crop can increase. This time in Telangana, cotton is being encouraged more than paddy, as cotton prices have reached a record high of Rs 13,000 per quintal this season.Telangana cotton demand in international marketApart from Telangana, awareness campaigns are being run by the government to cultivate cotton in Haryana, Punjab, Maharashtra, Orissa and Madhya Pradesh. In order to promote indigenous cotton, the Haryana government is providing incentives up to Rs 3,000 per acre to the farmers, while the Punjab and Haryana governments are running awareness campaigns to save the cotton crop from pink bollworm disease. One of the reasons for promoting cotton cultivation in Telangana is that the demand for cotton in the international market is very high.

Today evening, the rupee strengthened by 6 paise to close at Rs 76.42 against the dollar.Today the stock market closed with a fall.Today, where the Sensex closed at a level of 57060.87 points, down by about 460.19 points. On the other hand, Nifty closed at the level of 17102.50 points down by 142.50 points.  

“The duty exemption on cotton import is just not enough, traders and stakeholders demands for other measures”The cotton fraternity welcomes the decision of the government of removal of duty on cotton import, but it should have come earlier ,says the stakeholders. Sumit Jain, MD of a Delhi based Textile Company asserts that had the decision came 6-7 months earlier we wouldn’t have cancelled several orders due to the steep price hikes. Many business commitments couldn’t get fulfilled as the surging in prices every fortnight derailed the original manufacturing plans and their timeline.Several factors contribute to the spike in rates including the rise in demand but lack of supply and excessive rainfall in some major  cotton growing areas. Also, the irregularity in the supply chain and logistics has disrupted the global trade affair.Firms like MSME are really facing a tough time with their production from past 8-10 months. The traders and exporters are now looking for some more perks to stabilize the industry. Firstly, government should take a firm stand to control the export of raw cotton, in order to add value to cotton products. The Home Textile Welfare Association (HEWA) urges the government to put serious checks on the uncontrolled export of raw materials to competitive countries like China and Bangladesh..

Rupee depreciates against dollar, breaks 9 paiseIn the foreign exchange market, the rupee opened with a fall today against the dollar. Today the rupee opened with a fall of 9 paise at Rs 76.57 against the dollar. At the same time, the rupee on Thursday closed at Rs 76.48 with a strength of 5 paise against the dollar.

Sensex rises further, opens up 315 pointsToday the stock market opened with great momentum. Today, the BSE Sensex opened with a gain of 314.65 points at the level of 57835.71 points. On the other hand, the Nifty of NSE opened with a gain of 86.20 points at the level of 17331.20 points.

*All India Weather Forecast for April 29, 2022**Weather systems made across the country*A Western Disturbance is persisting over North Jammu and Kashmir and adjoining parts of Pakistan.A Cyclonic Circulation is persisting over Bihar and adjoining areas.A contour is passing from Vidarbha to South Tamil Nadu through Telangana and Interior Karnataka.Another fresh Western Disturbance is likely to reach Western Himalayas by May 2.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred over parts of Assam, Meghalaya, Arunachal Pradesh and Kerala.Light rain occurred in 1-2 parts of Nagaland, Manipur and North Interior Karnataka and South Chhattisgarh.Heat wave conditions prevailed over some parts of Gangetic West Bengal and parts of Bihar, West Rajasthan, Odisha, Vidarbha and Saurashtra Kutch.*Weather activity likely during next 24 hours*During the next 24 hours, isolated light rain with isolated falls over parts of Sikkim, Sub-Himalayan West Bengal, Assam, Meghalaya, Arunachal Pradesh, parts of Kerala, Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, Ladakh and Himachal Pradesh. But there may be moderate rain.Light rain is possible over one or two parts of Manipur, Mizoram, Karnataka and South Chhattisgarh, Andhra Pradesh and Andaman and Nicobar Islands.Heat wave conditions are possible over Vidarbha, Rajasthan, parts of Madhya Pradesh and one or two parts of Uttar Pradesh, Jharkhand, Bihar, West Bengal, Odisha, Gujarat, Haryana, Delhi and Punjab.