Gujcot Weekly Report
Posted : March 21, 2019
Market Movement from 04th Mar 2019 to 09th Mar 2019
- NY Futures closed slightly higher after a volatile week. Same remained with the MCX futures.
- WASDE all data remained unchanged for US and India. World ending stock raised marginally. But overall report was neutral.
- Indian physical market remained firm and despite some down trend on future markets physical market remained firm.
- Indian Rupee appreciation against dollar will be negative for physical cotton.
- Exporters and merchants supported market with good buying during this week.
- Good buying witnessed in yarn but payment is situation remained very tight in domestic market.
- Gujarat 29 mm Cotton sold between 42,600 to 43,000 Rs./Candy.
- All India Daily Arrivals remained between 1,10,000 to 1,25,000 bales.
- Gujarat Daily Pressing was approximately 40,000 to 45,000 bales.
- NY May futures w/w lost 0.36 cents.
- Indian Rupee remained stable between 70.00 to 70.91 during this week.