Daily Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Wednesday 5th Dec. 2018

? Domestic: The markets of Maharashtra & Uttar Pradesh are yet held with poor demand. Traders in Maharashtra are trading below the MSP with rates ₹2870-2890 because of no demand in the domestic market. Sugar millers are selling their sugar stocks at an open rate of ₹2900 however there is no demand for their stocks as traders are selling sugar below the MSP. In Uttar Pradesh, M/30 was traded at ₹3050 to ₹3090 (Rates are excluding GST).

? International: The market has continued to remain flat. London White Sugar traded at $345.30, whereas US Sugar Traded $12.77

? The FOB indication for raw sugar was at $298-$303 & Indian White Sugar at $313-$318 with rupee getting stronger against dollar.
The demand of Raw Sugar range was ₹18700-18900/mt & White Sugar ₹19500-₹19700/MT on Ex.factory basis.

? Currency & Commodity: USD/INR was traded at 70.64 & USD/BRL 3.841, Domestic Crude Futures ₹3823 (+96), Crude WTI $53.54

? Equity: BSE Sensex closed at 35884 (-249.90 Points) & Nifty closed at 10782 (-86.60 Points)

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