Daily Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Thursday, 10th January 2019

• Domestic: Nationwide, there was no major movement however the market was firm. The market is likely to hold some quietness in parts of India, especially Gujarat & Rajasthan with Makar Sankranti around the corner. In Maharashtra, Kolhapur belt millers opened tenders at ₹2900 to ₹2920 meanwhile in Pune and Ahmednagar belt millers opened tenders at ₹2910 to ₹2940. Resale sugar was traded at ₹2880 to ₹2930. In Uttar Pradesh, M/30 was traded at ₹3100 to ₹3200 (Rates are excluding GST).

• International: With the strengthening rupee and falling global prices, the market continued to be flat. London White Sugar traded at $347.70, whereas US Sugar Traded at $12.84.

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 70.53 meanwhile USD traded with BRL at 3.691, Crude Futures traded at ₹3673, WTI $52.06

• Equity: Breaking its four-day rising spree, the BSE Sensex ended over 100 points lower Thursday on selling in banking shares amid negative cues from other Asian markets. After a volatile session, the 30-share index settled 106 points down at 36106 while the broader NSE Nifty fell 33 points to finish at 10,821.

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SOURCEChiniMandi

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