Gujcot Weekly Report
Posted : May 10, 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.