Market Movement from 02nd Feb 2026 to 07th Feb 2026.

• As the March contract approached expiry, the market remained under significant pressure due to additional certified stocks added by traders and higher production estimates projected by ICAC. Despite substantial on-call purchases that still need to be settled or rolled over, sentiment continued to weigh on prices. Consequently, NY March futures closed near 61 cents, registering a weekly loss of 211 points week-on-week.
• U. S. Export sales were decent.
• In the latest U. S. Export Sales Report for the week ending 29 January 2025, U.S. cotton export sales showed solid demand across both current and forward marketing years. In the 2025–2026 season, net upland sales stood at 2,49,800 bales, with shipments reaching 2,35,300 bales, reflecting steady physical movement. Net Pima sales were recorded at 3,300 bales, while Pima shipments totaled 2,300 bales, taking the combined total sales for the week to 2,53,100 bales. For the 2026–2027 marketing year, net upland sales were reported at 1,14,900 bales, with no new Pima sales registered, resulting in a total forward sales figure of 1,14,900 bales. Overall, the report indicates continued buying interest and healthy shipment activity in U.S. cotton exports.
• The Gujcot spot rate opened at ₹54,650 on Monday and improved slightly to ₹54,800 on Tuesday, followed by a marginal rise to ₹54,850 on Wednesday. In the latter half of the week, prices eased back to ₹54,650 on Thursday and further softened to ₹54,550 on Friday. On Saturday, the rate was ₹54,350. Overall, the market remained range-bound with limited volatility and steady mill buying interest throughout the week.
• In the Indian cotton market, prices remained steady to weak. Mills currently have sufficient coverage and are not in a hurry to make fresh purchases, resulting in almost no buying interest in CCI auctions. Despite the slow demand, CCI has not reduced its prices yet; however, the market expects a price cut at any time.
• As liquidity is now available in the private market, CCI has closed the registration window.
• Following the trade deal with the U.S., the rupee appreciated, while NY March futures declined, leading to a sharp rise in the Indian basis. Currently, the Indian basis is at its highest level between 13.50 to 15.69.
• This week, the USD-INR exchange rate remained relatively stable with mild volatility. The week began on Monday at 91.51, followed by a sharp decline on Tuesday to 90.27. On Wednesday, the rupee slightly weakened to 90.44 and remained almost steady on Thursday at 90.36. By Friday, the pair closed at 90.66, indicating a marginal recovery in the dollar towards the end of the week. Overall, the market witnessed a correction early in the week followed by consolidation within the 90.25–90.70 range.
• “Hope for the best.”