Daily Market Update By ‘Vizzie’

Domestic: The market witnessed some quietness nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3130/Qntl, whereas in Resell, the rates are Rs.3050 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3200 to 3250. In resale, the market rates are Rs.3190 to 3230. In Gujarat, S/30 is trading at Rs.3140 to 3150. In Tamil Nadu, Mill trades are taking place at Rs.3310 to Rs.3360 excluding GST.

International: Owing to the shortage of MIEQ Quota for exports, In Maharashtra, Karnataka and Gujarat state, the demand in export is taking peak. According to market sources, majority of the millers have already sold their MIEQ Quota. As per the trades, ex mill prices took was led to uptrend by few exporters due to short covering.

London White Sugar is trading at $325.10 whereas US Sugar is trading at $11.85

The FOB indication for raw sugar was at $320-$322 and Indian White Sugar at $335-$337.

The demand of Raw Sugar range was ₹20000-20200/mt and White Sugar ₹21300-₹21500/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 70.06 meanwhile USD traded with BRL at 3.946, Crude Futures traded at ₹4340, Crude WTI is trading at $62.01.

Indices: The Indian equities ended lower the eighth straight session on Friday, tracking weak cues from Asian peers. At close, the Sensex was down 95.92 points at 37,462.99, while Nifty was down 22.90 points at 11,278.90.

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