Daily Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Monday, 14th January 2019

• Domestic: The first day of the week was observed with quite a good demand. Intraday, millers closed their sale on high demand. The rates millers quoted today were as follows, Kolhapur belt ₹2920 to ₹2950 meanwhile in Pune and Ahmednagar belt rates by millers were at ₹2940 to ₹2960. Nira Bhima Mill opened their rates at ₹3200 for S/30 and ₹3300 for M/30. This was a hot discussion in the market as the rates opened were ₹250/qtl higher than the market rate. While having a look at Uttar Pradesh, M/30 was traded at ₹3210 to ₹3250.
(Rates are excluding GST).

• International: The market opened with a downward trend. London White Sugar traded at $343.20, whereas US Sugar traded at $12.75.
The FOB indication for raw sugar was at $296-$300 and Indian White Sugar at $314-$318

The demand for Raw Sugar range was ₹18200-18400/mt and White Sugar ₹19200-₹19400/MT on Ex.factory basis.

• Currency & Commodity: US Dollar traded with INR at 71.03 meanwhile USD traded with BRL at 3.729, Crude Futures traded at ₹3623, WTI $51.09

• Equities surrendered early gains. The 30-share index opened on a strong note but failed to hold on its gains and settled 96 points lower at 36,009. The NSE Nifty too slipped by 26 points to close at 10794.

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