Daily Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Wednesday, 9th January 2019

• Domestic: Prices of sugar rose nationwide with the industry expecting a hike of MSP. In Maharashtra, millers opened tenders at ₹2920 to ₹2950, whereas in Uttar Pradesh, M/30 was traded at ₹3060 to ₹3160 (Rates are excluding GST).

• International: The market continued to be flat. London White Sugar traded at $345.40, whereas US Sugar Traded at $12.70.
The FOB indication for raw sugar was at $296-$300 & Indian White Sugar at $314-$318
The demand of Raw Sugar range was ₹18200-18400/mt & White Sugar ₹19200-₹19400/MT on Ex.factory basis.

• Currency & Commodity: US Dollar traded with INR at 70.46 meanwhile USD traded with BRL at 3.701, Crude Futures traded at ₹3590, WTI $50.81

• Equity: Continuing its rising spree for the fourth session, benchmark BSE Sensex reclaimed the 36,000 mark by jumping over 200 points Wednesday tracking positive cues from global markets on rising hopes that the US and China would strike a deal to end their trade tiff. The BSE Sensex ended at 36212, showing a gain of 231 points. The NSE Nifty also gained 53 points to settle at 10855.

SOURCEChiniMandi

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