Market Movement from 01st Mar 2021 to 06th Mar 2021
- Another bear dominated week on NY future market. After last week’s liquidation, market recovered a bit on Monday but recovery did not sustain and the week ended in red.
- NY May lost 107 points and NY July lost 104 points during this week.
- U.S. Export Sales was lower with some cancellation but shipment was good. Cumulative export sales stand at 1,42,86,255 RB out of that 85,63,978 RB already shipped.
- Next WASDE report on next Tuesday will guide the market.
- Indian physical market did not follow NY Future market. Despite huge decline in NY future Indian physical market slightly lowered.
- CCI cotton sale was poor but Indian ginners and farmer were firm to sale.
- All Indian arrivals remained nearly One lakh bales a day.
- Gujarat arrivals remained between 30,000 to 35,000 bales a day.
- Indian rupee remained stable between 72.71 to 73.54 against USD.