NORTH
New Delhi, 7 August! Weather remained mostly cloudy with some rain in certain cotton track of Punjab, Haryana and Rajasthan. Market remained stable with little demand from local mills as few lots of Fazilka and Bhucho were sold @ Rs. 2810/- per md. whereas an International Merchant sold around 1000 bales @ Rs. 2685/- per md. Haryana J-34 RG October was quoted at 2560/- whereas November is quoted at 2530/- per md. Punjab RG. was quoted October delivery is 2620/- whereas November delivery at Rs. 2590/- per md.
GUJARAT
Weather remained mostly cloudy with good rain in certain pockets of Saurastra and Ahmemdabad area. Market remained stable in ready with some nominal buying from Northern mills whereas in forward, market was little weak as Alok Industries was bought little quantity @ Rs. 24500/- per candy for whole December delivery whereas an International merchant is a seller in December delivery what he has procured earlier from the market.
MAHARASHTRA
Weather remained cloudy as whole of Vidharbha got good to very good rain in last 24 hours and at the same time few centers of Marathwara and Khandesh area also got some rain. Market remained weak with very poor buying.
SNIPPETS:
01. NYCE settled higher on Wednesday as trade buying overcome speculative selling while held up in the face of outside weaknes..
02. Bremen Cotton Exchnage CIF Index (SM 1 3/32) on 06.08.08 was 80.05 US cents against 82.05 US cents in previous week.
03.Yesterday’s low pressure area over south Chhattisgarh and neighbourhood has become less marked. However, the associated upper air cyclonic circulation extending upto mid-tropospherical level lies over Jharkhand and neighbourhood. Under its influence, scattered to fairly widespread rainfall activity is likely over east India during next 48 hours.
Another upper air cyclonic circulation lies over Haryana & neighbourhood in lower tropospherical levels. Under its influence, scattered to fairly widespread rainfall activity is likely over northwest and adjoining central India during next 48 hours.
A fresh low pressure area is likely to form over northwest and adjoining west central Bay of Bengal around 9th August. This is likely to increase rainfall activity over central & adjoining peninsular India from 9th onwards. The rainfall activity is also likely to increase along the west coast and Gujarat state with possibility of heavy to very heavy falls from 9th onwards.(KCT & Associates)
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