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.