INR clsd Higher on hopes that Govt will announce more policy reforms to attract more Foreign Funds.
*Mkt was boosted by Diesel price hike & US Fed Stimulus.
Export offer of 30count combed cotn yarn were placed at 3.55USD/kg CNF. Domestic offer price of 30count combed:200/kg, carded:185/kg & single PC:185/kg.
Maharashtra Kharif Output seen 28% Dn:
*Soy output seen 35.08L MT vs Last year 40.25L
*Pulses output seen Dn 20%
*Cereals Dn to 49.34L vs Last year 70.70L MT
*Pak:textile industry gas supply reduced to four days a week earlier arrangement of five days a week
*US Fed keeps Interest rates Unch & Plans $40 Bln Bond buying.
*Govt hikes Diesel price: Supports INR
*Indias Exports declined by 9.7% year-on-year to USD22.3bln in Aug due to global economic slowdown, Imports slipped by 5.08% to USD38bln
Forward Quotes but no buying Reported,
Guj: Full Oct./Nov:S-6:35000/200.
*North:Full Oct Har Quoted @3600, Punjab: Exporter int to sellfull Oct/Nov Dil @3670
*Punjab Agricultural University in a survey found the incidence of sucking insect-pests like whitefly and mealy bug on Bt cotton.
*Source: Egypt had issued a decision to lift ban on cotn imports imposed in February to protect domestic mkt
*Monsoon showers in growing areas in last few weeks & higher acreage in AP will likely help salvage cotton crop for season starting Oct.
*CURRENCY (1USD) INR54.687 CNY6.322 Pak94.569 EUR0.767
*US Spot 68.93c/pnd
*Brazil cotton Index 82.25c/pnd Down 0.12%
US Fed Reserve Keeps Interest Rates Unch Till Mid-2015
*Fed will buy another $40 Bln of Bonds till Job Mkt Improves
North easy Rs10/5
PUN Bht3690 Bhuch3710 Mansa3660
RAJ Han3650/60 Pili/Surat3450/60 Vngr/Jsar3430/50 HAR3645/60
*Guj Steady to easy, Tone wait & Watch
MP/MH Steady to easy, tone wait & watch
AP Wait & watch
*KP MH/MP3800/4600 Guj500/880 Kar3800/4600 AP3500/4600
*KHL MH1380/520 Guj780/900 MP1200/320 AP1380/550
SHREE SUDARSHAN COTTON COMPANY
SINGHANIA COTTON COMPANY
SINGHANIA FINANCIAL SERVICES