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Wait for revival of demand for cotton yarn gets longer in north IndiaThe prices of cotton yarn continued to remain stable in north India as recent rains and low temperature has prolonged the delay in revival of summer clothing demand. To some extent, desperation for sale increased on the part of traders, brokers and spinning mills. Some were even offering unofficial discounts on market rates to lure they buyers.“We cannot have big hope from summer season as downstream industry has ample stocks of grey fabrics, finished fabrics and readymade garments. Cotton yarn prices were ruling at discount of ₹10-15 per kg on spinning mills’ rates which shows poor demand from downstream industry,”He also cautioned for downward trend after mid-February as Chinese new cotton arrival will depress market sentiments globally including in India.Panipat market also noted similar trend on demand front. According to the trade sources, new cotton yarn and recycled cotton yarn were traded at previous prices. Recycled yarn is not getting support for the last few weeks as there is ample availability of raw material i.e., fibre of used clothing. Poor demand from furnishing segment was also depressing market sentiments. Normally furnishing demand picks up before Diwali.In Ludhiana market too, cotton yarn demand remained weak. Cotton yarn of 20 and 30 counts in combed variety were traded stable at ₹360-370 per kg and ₹390-400 per kg respectively. Carded yarn in 30 counts was quoted at ₹360-370 per kg,In Delhi, cotton yarn of 30 count combed was traded steady at ₹350-360 per kg, 40 count combed at ₹420-430 per kg, 30 count carded at ₹340-350 per kg and 40 count carded at ₹380-395 per kg, according to TexPro. 10 count weaving (O/E) yarn was quoted at ₹125-130 per kg, and 16 count weaving (O/E) at ₹165-170 per kg.In Panipat, cotton yarn prices were recorded as: 10s recycled yarn (white) at ₹95-100 per kg, 10s recycle yarn (dyed) at ₹90-100 per kg, and 20s recycled yarn (dyed) at ₹100-125 per kg. 10s optical yarn was traded at ₹90-100 per kg in the market. 2/40 combed yarn of new cotton fibre was traded at ₹400-410 per kg.

Today evening, the rupee depreciated by 13 paise to close at Rs 74.94 against the dollar.Today the stock market closed sharply.Today, where the Sensex closed at the level of 58926.03 points, up by about 460.06 points. On the other hand, the Nifty closed at the level of 17605.80 with a gain of 142.00 points.  

Rupee depreciates against dollar, opens 7 paise weakerRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 7 paise at Rs 74.88 against the dollar. At the same time, on Wednesday, the rupee closed at a level of Rs 74.81 with a weakness of 6 paise against the dollar.Today the stock market opened with great momentum.Today the BSE Sensex rose by about 218.68 points to open at the level of 58684.65 points. On the other hand, the Nifty of NSE opened with a gain of 65.70 points at the level of 17529.50 points.  

Rupee opens 1 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with the strength of 1 paise at Rs 74.74 against the dollar. At the same time, on Tuesday, the rupee closed at a level of Rs 74.75 with a weakness of 5 paise against the dollar.Today the stock market opened with great momentum.Today the BSE Sensex rose by about 481.94 points to open at the level of 58290.52 points. On the other hand, the Nifty of NSE opened with a gain of 143.00 points at the level of 17409.80 points. Today, trading started in a total of 2,489 companies on the BSE, out of which 1,782 shares opened up and 635 opened with a fall.  

All India weather forecast for February 9, 2022Weather systems made across the countryA Western Disturbance is over North Pakistan and adjoining areas.An Induced Cyclonic Circulation is persisting over West Rajasthan and adjoining region.Another Cyclonic Circulation lies over Madhya Maharashtra and adjoining Marathwada.A trough is extending from North Kerala to a cyclonic circulation over Maharashtra.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Andaman and Nicobar Islands experienced light to moderate rain with isolated heavy falls.Light rain and snowfall occurred in Jammu and Kashmir, Gilgit-Baltistan and Muzaffarabad as well as Arunachal Pradesh and Sikkim.Light rain occurred in isolated parts of Assam and Kerala.Day temperatures have increased by 2-3 degrees over Northwest and Central India.Probable weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain and snow is possible over some parts of Western Himalaya and isolated parts of Arunachal Pradesh.Light rain may occur over parts of Rajasthan, Punjab, Haryana, Delhi, West Uttar Pradesh and Andaman and Nicobar Islands.Light rain is possible at isolated places over Sikkim, Assam and Arunachal Pradesh.Light rain is possible in some parts of North and East Madhya Pradesh, Bihar and Chhattisgarh on February 9.

Agriculture Minister S. Niranjan Reddy said that there was a huge demand for the cotton being grown in Telangana and the government has decided to establish a cotton research centre at Adilabad.Similarly the government has also decided to establish redgram seed research centre at Tandur in Vikarabad district.Disclosing these details at a review meeting here on Tuesday, Mr. Niranjan Reddy said that agriculture is one of the fields which creats more employment and hence the government has been taking all steps to strengthen it.“We have to identify the technology that will be useful for our agriculture. Focus should be on crop colonies like banana, potato, chilly, cotton seed, redgram and other vegetables. We have to take steps to grow vegetables not only surrounding Hyderabad but also in the towns and corporations across the state,” said Mr. Niranjan Reddy adding that it was decided to constitute a committee to continuously monitor the cultivation of oil palm in scientific manner.The Minister said that additional land would be acquired for oil fed factory at Aswaraopet, land would be acquired for a factory at Vensur in Khammam district, factory at Beechupally will be transformed as oil palm factory, another two factories would be established at Siddipet and Mahabubabad.“Four factories will become operational in the next six months. Oil palm cultivation will be taken up in about 20 lakh acres in the next four years. It was also decided to increase the potato cultivation in the state and cold storage facility will be increased for storing potato seed. It was decided to hand over the 10 acres of land in Koheda market to the warehousing corporation for the construction of cold storage,” said Mr. Niranjan Reddy stating that while the national average in agriculture development was 8.5 per cent it was 15.8 per cent in Telangana.

South Indian cotton yarn market may see bearish trend till mid-FebCotton yarn prices remained steady in southern and western India’s markets as demand from downstream industry continued to remain bearish. According to traders, demand is not likely to improve before mid-February. Once the fabric manufacturers exhaust their yarn inventory, they will need to buy new yarn, and demand will improve at that time.In western indian city of Mumbai, spinners quoted higher prices, but no trade materialised at those rates, so effective market prices hovered near previous levels. A broker from Mumbai told Fibre2Fashion that mills have increased their selling prices by ₹3-5 per kg as their production cost moved up due to costlier cotton. But there was no trade at higher prices.In Mumbai, since the spinning mills have increased yarn prices by ₹3-5 per kg, the gap between mills’ offer prices and market prices widened. In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,930-1,990 per 5 kg and ₹1,670-1,730 per 5 kg respectively. 80 count carded cotton yarn of weft variety was sold at ₹1,860-1,900 per 4.5 kg. Carded cotton yarn (44/46 count) of warp variety was traded steady at ₹1,720-1,740 per 5 kg.The knitwear hub of Tiruppur also witnessed steady trend in cotton yarn with bearish tone as demand was very weak. According to market sources, exporters were buying cotton yarn in limited quantity, which was not enough to improve market sentiments.Cotton yarn 30 count combed variety was traded in Tiruppur at ₹365-375 per kg, 34 count combed at ₹375-385 per kg and 40 count combed at ₹400-410 per kg. Cotton yarn of 30 count carded was sold at ₹325-335 per kg, 34 count carded at ₹330-340 per kg and 40 count carded at ₹350-360 per kg,

Today evening, the rupee depreciated by 5 paise to close at Rs 74.75 against the dollar.Today the stock market closed sharply.Today, where the Sensex closed at the level of 57808.58 points with a gain of about 187.39 points. On the other hand, Nifty closed at the level of 17266.80 with a gain of 53.20 points.

Rupee opens 7 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 7 paise at Rs 74.63 against the dollar. At the same time, the rupee on Friday closed at Rs 74.70 with a gain of 16 paise against the dollar.

Sensex rises, opens up 198 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 197.52 points to open at the level of 57818.71 points.

All India weather forecast for February 8, 2022Weather systems made across the countryA Western Disturbance is over Jammu and Kashmir and adjoining areas.An Induced Cyclonic Circulation lies over Central Pakistan.By the night of February 8, a fresh Western Disturbance will approach the Western Himalayas.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain and snow have occurred over the upper reaches of Gilgit-Baltistan, Muzaffarabad, Ladakh and Jammu and Kashmir.Light to moderate rain occurred over Andaman and Nicobar Islands.Dense fog remained over isolated parts of Punjab and Uttar Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain and snow is possible over Gilgit-Baltistan, Muzaffarabad, Ladakh, Jammu and Kashmir and isolated parts of Himachal Pradesh and Uttarakhand.Light rain is possible over Haryana, parts of North Rajasthan and isolated parts of Punjab on February 8.Rain and snowfall will increase on February 9 and will cover Uttarakhand as well. Rain and thundershowers are very likely over northern plains including isolated parts of Punjab, Haryana, Delhi, West Uttar Pradesh and North Rajasthan.Light rain is also possible in some parts of Bihar, Jharkhand, Chhattisgarh and East Uttar Pradesh.