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Rupee depreciates against dollar, opens 4 paise weakerRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 4 paise at Rs 74.52 against the dollar. At the same time, on Monday, the rupee closed at Rs 74.48 with a weakness of 5 paise against the dollar.

Poor start in the Sensex, falling 99 points to openToday the stock market opened with great momentum. Today the BSE Sensex fell by about 99.00 points and opened at the level of 60619.71 points.

*Cotton slides on heavy arrivals, stock limit fears**Prices might drop further over the next few weeks on a spurt in arrivals, say Telangana traders**Cotton prices have dropped by 8-10 per cent in Telangana from the maximum levels seen 10 days ago. Prices have dropped to ₹7,830 a quintal from the a high of ₹8,710 in a few mandis.**Prices in other parts of the country have also dropped by some three per cent, while on the Multi Commodity Exchange (MCX), cotton futures fell five per cent on Monday.**The fall in prices is mainly attributed to arrivals gathering pace but a Rajkot-based trader in Gujarat blamed the fall on speculators on MCX and European markets.**Ajay Shah, General Secretary, Gujarat Cotton Trade Association, said prices had dropped since the government had taken a serious view of the sharp rise in prices.**Sharp hike worries govt “We, in our association, have asked buyers not to resort to any panic purchases.The threat of stock limits looms and hence prices are softening. But there won’t be any sharp fall,” he said.**Prices might drop further over the next few weeks on a spurt in arrivals, say traders in Telangana. The Rajkot trader said arrivals are unlikely to witness any huge spurt and prices might drop another ₹500-1,000 quintal. They will still rule higher than the minimum support price of ₹5,726 for this season (October 2020-September 2021).**“No one was selling since prices were high, while buyers too were reluctant earlier,” the trader said. Prices of Shankar-6, the benchmark for exports, have dropped from ₹70,000 a candy (356 kg) to ₹66,500 on Monday.**A cotton trader in Warangal said: “At Warangal, they quoted a price of ₹8,500 on November 1. It fell to ₹8,290 on November 8 and to ₹7,830 on November 15.” Arrivals continue to hover around about 10,000-12,000 a day at Warangal. The situation at Adilabad and Mahboobnagar market yards is no different. “The farmers should get at least over ₹7,000 a quintal to recover their investments,” T Sagar, Secretary of Telangana Rythu Sangham, said.**All-India Kisan Sabha leader S Malla Reddy said there is a good demand for the fibre crop globally. He hoped that the farmers would continue to get a better price this season.**Hostile weather, untimely rains and outbreak of pink bollworm in some areas resulted in poor output this season. Owing to strong demand and poor output, prices are expected to be higher this season.**“The prices might come down a bit further as the market yards are expected to see increased volumes in the next few weeks,” Malla Reddy said.* *SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771*Smartinfoindia.com*https://wa.me/919111977775*

*PAKISTAN COTTON MARKET UPDATE**Prices inert on cotton market**Spot rate of cotton remained unchanged on Monday at Rs 16,300 per maund as announced by the Karachi Cotton Association while the market remained steady.* *The Spot Rate Committee of the Karachi Cotton Association (KCA) maintained the spot rate unchanged at Rs 16300 per maund.**However, trading volume remained low while prices of cotton also remained unchanged. Chairman Karachi Cotton Brokers Forum and analyst Naseem Usman commenting on the situation said that trading remained slow but prices of Polyester fiber added Rs 3 to its per kilogram price taking it to Rs 250 per kilogram from Rs earlier 247 per kilograms.**He said rate of cotton in Sindh remained between Rs 13000 to Rs 16,800 per maund and the rate of cotton in Punjab was registered at Rs 14,300 to Rs 16,700 per maund. The rate of the new crop of Phutti in Sindh was remained between Rs 4,500 to Rs 7,200 per 40 kg. While Phutti prices in Punjab were between Rs 5,800 to Rs 8,000 per 40 kg.**Similarly, prices of cotton in Balochistan were remained at Rs 13,800 to 16,400 per maund while Phutti prices were high as compared to other two provinces which were Rs 6,200 to 8,000 per maund, said Naseem Usman.**The rate of Banola in Sindh was in between Rs 1,350 to Rs 2,000 per maund. While in Punjab rates of Banola were in between Rs 1,650 to Rs 2,200 per maund. As many as 1,200 bales of Saleh Pat were sold on Monday at Rs 16,000 per maund, 200 bales of Rahim Yar Khan at Rs 16,500 per maund, 200 bales of Haroonabad at Rs 16,000 per maund, 200 bales of Mian Wali at Rs 16,700 per maund, 200 bales of Fort Abbas at Rs 16,000, 200 bales of Yazman Mandi at Rs 16,000, 12,00 bales of Faqeer Wali at Rs 16,000, 200 bales of Marrot at Rs 16,100 and 400 bales of Jahanian at Rs 14, 200 per maund.**Meanwhile, Naseem Usman said that local cotton market during the last week witnessed overall stable rate of cotton. Textile and spinning mills remained involved in buying of quality cotton while ginners were also involved in buying of Phutti due to its high prices.**Trading volume remained a little bit low.* *The mills were involved in buying cotton locally despite high rates because the rates of cotton in international market are also high and the rate of US dollar has again increased.*

*All India Weather Forecast for November 16, 2021**Weather systems made across the country*The Low Pressure Area is over North Andaman Sea and adjoining area. The associated cyclonic circulation extends up to 5.8 km above mean sea level. It may further intensify into a well-marked low and subsequently into a depression during the next 24 hours. It will move in west-northwest direction and may reach Andhra Pradesh coast by November 18.Another cyclonic circulation lies over South Interior Karnataka and adjoining North Interior Tamil Nadu.A cyclonic circulation is seen over Northeast Kerala coast off Karnataka and adjoining East Central Arabian Sea.A trough is extending from southeast Arabian Sea across Kerala, South Interior Karnataka, Telangana and Odisha up to Gangetic West Bengal at lower levels.A Low Pressure Area is very likely to form over East Central Arabian Sea off South Maharashtra and Goa coast around November 17.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred over Kerala, Coastal Karnataka, parts of Coastal Odisha, Jharkhand, Andaman and Nicobar Islands and isolated parts of Telangana and Tamil Nadu.Light to moderate rain occurred over Gangetic West Bengal, Interior Odisha, Coastal Andhra Pradesh, Interior Karnataka, remaining parts of Andaman and Nicobar Islands, Goa and parts of Jharkhand.Light rain occurred at isolated places over South Madhya Maharashtra, South Konkan and Goa, Chhattisgarh and Lakshadweep.*Weather activity likely during next 24 hours*During the next 24 hours, light to moderate rain is very likely at isolated places over Andaman and Nicobar Islands, parts of Tamil Nadu, Karnataka, Kerala and Coastal Andhra Pradesh.Light to moderate rain is possible over Odisha parts of Chhattisgarh, Telangana, Lakshadweep, South Madhya Maharashtra and South Konkan and Goa.Light range is possible over Jharkhand, Gangetic West Bengal, Manipur, Vidarbha and isolated parts of Arunachal Pradesh.

Today evening, the rupee depreciated by 5 paise to close at Rs 74.48 against the dollar.Sensex rises further, closes up by 32 pointsToday the stock market closed sharply. Today, where the Sensex closed at the level of 60718.71 points with a gain of 32.02 points. On the other hand, Nifty closed at the level of 18109.50 with a gain of 6.70 points. 

Rupee opens 4 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 4 paise at Rs 74.40 against the dollar. At the same time, on Friday, the rupee closed at Rs 74.44 with the strength of 8 paise against the dollar.Sharp opening in Sensex, opened up 230 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 230.41 points to open at the level of 60917.10 points. On the other hand, the Nifty of NSE opened with a gain of 88.40 points at the level of 18191.20 points.

*Cotton output pegged at 362 lakh bales this year**Cotton production during the current season (October 2021 to September 2022) is projected to reach 362.18 lakh bales, according to the provisional estimates of the Committee on Cotton Production and Consumption.**The committee decided at its meeting on Saturday that with opening stock of 73.20 lakh bales and import of 10.50 lakh bales, the total availability this season was likely to be 445.88 lakh bales as against 485.66 bales the previous season.* *The demand from textile mills, including small-scale units, is estimated at 322 lakh bales, and exports pegged at 45 lakh bales. Exports in the 2020-2021 season were almost 73 lakh bales.**Industry sources said last season’s consumption by textile mills were likely to have been lower than the estimate due to the impact of COVID-19. Hence, the opening stock for the current season may be higher.**Observing that the cotton position was expected to be comfortable this season, Southern India Mills’ Association Chairman Ravi Sam suggested that textile mills should wait for bulk arrivals to pick up and not rush into purchases now.**On Saturday, a candy of the Shankar-6 variety of cotton was priced at ₹66,200.*

*All India Weather Forecast for November 15, 2021**Weather systems made across the country*An area of low pressure is formed over the central part of Andaman Sea. The associated cyclonic circulation extends up to 5.8 km above mean sea level. It is expected to move in a west-northwest direction and intensify into a depression over southeast Bay of Bengal by November 15.A Cyclonic Circulation is persisting over Interior Tamil Nadu.A trough from this cyclonic circulation is extending up to Gangetic West Bengal across Coastal Andhra Pradesh and Odisha.*Weather movement across the country during the last 24 hours*During the last 24 hours, Kerala received moderate to heavy rains. Light to moderate rain with isolated heavy falls occurred over South Interior Karnataka, Coastal Andhra Pradesh, parts of West Bengal and Jharkhand and Lakshadweep.Light to moderate rain occurred over Tamil Nadu, Rayalaseema, Telangana, Coastal and North Interior Karnataka, parts of Chhattisgarh and remaining parts of Gangetic West Bengal.Light rain occurred in isolated parts of Vidarbha and South Madhya Maharashtra.The air pollution in Delhi and NCR remains in the very poor to severe category.*Weather activity likely during next 24 hours*During the next 24 hours, moderate to heavy rains are likely to continue over Kerala. Light to moderate rain at a few places is very likely over Karnataka, Andaman and Nicobar Islands, isolated parts of Tamil Nadu and Coastal Andhra Pradesh.Light to moderate rain may occur over some parts of Chhattisgarh, Telangana, South Konkan & Goa, South Madhya Maharashtra, Gangetic West Bengal and Lakshadweep.Light rain is possible over Vidarbha, Marathwada and Jharkhand and isolated parts of Manipur, Mizoram and Tripura.

Rise in cotton yarn prices impacts apparel industryThe steep rise in cotton yarn and fabric prices has started impacting the apparel industry. Apparel Exports Promotion Council chairman A Sakthivel, who was in Jaipur, said that the recent growth in apparel exports would be impaired if the runaway rise in yarn and cotton prices are not curbed.Early this month, he has written a letter to textiles minister Piyush Goyal to intervene and take measures to rein in the rise in raw material prices without which there could be shortages as early as February and March next year.“Apparel exports during the April-October have grown by 44% to $8.6 billion. In fact, the shipments have grown by double digit in the past two months. With the peak season approaching, India has the opportunity to leverage good global demand and order position and meet the $20.03 billion export target for 2021-22,” said Sakthivel.However, the uncertainties in the cotton yarn price has created hurdles. The industry is also facing increasing input cost pressure on other fronts. In the letter to the textiles minister, Sakthivel said, “The rise in cotton yarn and fabrics prices have started impacting the entire value chain. Adding to this is the volatile crude oil price, logistics cost, coal addition to the yarn prices, the rising crude oil prices, logistics cost, coal prices, prices of dyeing and chemicals etc which has impacted costing of apparels considerably.Because of this, exporters are not being able to service existing orders and finding it difficult to take new orders.”He urged the minister to consider quantitative restrictions on export of cotton and cotton yarn to bring down galloping prices.“Cotton Corporation of India should be actively involved in managing cotton prices.CCI should also be advised not to increase prices at present as it will impact yarn prices and have a cascading effect across value chain. As a long-term measure, cotton price stabilization fund scheme should be announced,” he said .Sakthivel, which is also the chairman of Apparel Training and Design Centre, said they are in the throes of upgrading the training centers. “Jaipur is one of the main hubs for garment exports. Accordingly, we have started the process of upgrading the centres here,” he said. ATDC is also focusing on upskilling existing employees for enhancing their productivity.Sakthivel said, “The new working committees are putting their best efforts to improve drastically the quality and productivity of the training centres.”

Rupee opens 13 paise stronger against dollarRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 13 paise at Rs 74.38 against the dollar. At the same time, on Thursday, the rupee closed at Rs 74.51 with a weakness of 13 paise against the dollar.Strong opening in Sensex, opened up by 272 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 272.08 points to open at the level of 60191.77 points.