Total Arrival : 1,12,500 Bales
MARKET OUTLOOK
- Today, the BSE Sensex opened at a level of 59256.22 points with a gain of about 149.78 points. On the other hand, the NSE’s Nifty opened at a level of 17439.20 points with a gain of 41.20 points.
- Today, the rupee opened at a level of Rs 82.06 against the dollar with a gain of 27 paise. On the other hand, on Monday, the rupee closed at a level of Rs 82.33 against the dollar with a weakness of 17 paise.
- South India’s cotton yarn trade sees higher demand in the first week of fiscal 2023-24, with prices increasing by ₹2-3 per kg in Mumbai, while remaining stable in Tiruppur.
- Pakistan’s textile sector exports witnessed a significant decline of 21%, clocking in at $1.29 billion in March 2023 compared to $1.63 billion recorded in the same month of the previous year, showed provisional data released by the All Pakistan Textile Mills Association (APTMA) on Tuesday.
- ICE cotton futures fell to the lowest in a week on Tuesday, as risk appetite weakened in the wider financialmarkets, although a weaker dollar limited losses.
North Zone:
Cotton traded steady tone across major spot market of north India on Wednesday. Prices were quoted down to 20-25 / maund yesterday evening. Today weather clear. New crop – cotton traded at ready delivery – In Punjab, Rs 6,175-6,275 a maund. In Haryana, it offered at Rs 6,125-6,225 a maund. while in Upper Rajasthan, quoted readty delivery at Rs 6,350-6,450 a maund
Central Zone:
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Cotton spot prices steady tone across west India market on Wednesday. Sankar-6, new crop 29 mm (RD-75 & MIC-3.8), in Gujarat traded at Rs 61,300-61,800 a candy and 28.5mm (RD-74) quoted at Rs.60,300-60,800 a candy. V-797 trade at Rs 47,300-47,800 (12-15% trash condition) a candy for ready delivery. While in Maharashtra, new crop good grade cotton (29mm) quoted at Rs 61,000-61,500 a candy
South Zone:
Cotton spot price was steady tone across the major trading centers of south India.
- INTERNATIONAL UPDATES
US Cotton Futures :
April Cotton Trade Starts With Red Candle: Front month cotton futures closed the first trade day of the new month with 19 to 50 point losses. For May that came after a 176 point range from -122 to +54. December futures ended the day 123 points off their daily high and 47 points above their session low. National cotton planting was marked at 4% complete in NASS’s Crop Progress report. TX was 7% planted as of 4/2, compared to 8% on average. Arizona was reported at 7% planted compared to their 5-yr average of 21%. The monthly Cotton Systems data from NASS had 697 RBs consumed
