Gujcot Weekly Report
Posted : May 23, 2020
Market Movement from 18th May 2020 to 23rd May 2020
- The market remained low during the week but the Dow Jones gained 1000 points on Tuesday as the results of the pharma company moderna tests came positive and the cotton futures gained on Tuesday. And end of week July ICE Cotton future lost with 64 points W/W.
- U.S. Export Sales were weaker compared to the last week. Shipment also slow to require to achieve target.
- Indian physical market again got rhythm and daily arrival cross 50,000 bales. Indian mill also resumes their operations partially. At current rate they get parity to work.
- CCI also active in all area.
- Indian basis remained between -2.50 to -3.80.
Indian Rupee remained weaker between 75.61 to 75.95 against USD during this week.