Daily Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Tuesday, 15th January 2019

• Domestic: Nationwide the demand took an uptrend. The rates millers quoted today were as follows, Kolhapur belt ₹2930 to ₹3000, Sharad Mill sold S/30 sugar at ₹3000 which was the highest rate today. Meanwhile, in Pune and Ahmednagar belt, rates by millers were at ₹2950 to ₹3000. In Uttar Pradesh, M/30 was traded at ₹3225 to to 3275
(Rates are excluding GST).

• International: The market has remained flat due to appreciation of dollar rupee conversion. London White Sugar traded at $348.00, whereas US Sugar traded at $12.88.
The FOB indication for raw sugar was at $298-$302 and Indian White Sugar at $312-$316
The demand of Raw Sugar range was ₹18300-18500/mt and White Sugar ₹19300-₹19500/MT on Ex.factory basis.

• Currency & Commodity:​ US Dollar traded with INR at 71.15 meanwhile USD traded with BRL at 3.716, Crude Futures ​traded at ​₹3644, ​WTI $51.18.

• Having a look on equities, ​ The BSE Sensex soared over 450 points Tuesday after lower retail inflation numbers for December raised RBI rate cut hopes, leading to intense buying in rate-sensitive stocks, supported by strong global cues. The 30-share index settled 464 points higher at 36318, while the broader NSE Nifty rallied 149 points to finish at 10886.

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