Gujcot Weekly Report
Posted : April 17, 2021

Market Movement from 21st Dec 2020 to 26th Dec 2020

  • Due Christmas holidays, this week was short in terms of trading days. Market crashed on Monday due to lockdown news and more spread of Covid-19 cases in Europe and also increasing numbers in USA in line with other markets. But finally recovered majority of the loss and closed the week with 96 points loss.
  • US export sales report was published on Wednesday showing one more weekly sale of 4 Lakh plus bales and also good shipment pace which helped future market to recover from Monday’s losses.
  • Soft dollar also supported market
  • Indian physical market also followed NY and week start with some down trend but after NY recovered on Wednesday Indian market recovered early losses.
  • CCI has procured over 67 lakh bales till date.
  • During this week sales of CCI was negligible.
  • All India daily arrivals remained between 2,70,000 to 3,00,000 bales a day.
  • Daily arrival in Gujarat was nearly 55,000 to 60,000 bales a day.
  • Gujcot spot rate remained between 41,850 to 42,200 during this week.
  • Indian rupee remained stable between 73.54 to 73.84 against USD.

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